Key facts
- Roberto Sanchez has taken a slim lead over Keiko Fujimori in Peru's presidential election.
- With approximately 94.9% of votes tallied, Sanchez has 50.10% and Fujimori has 49.90%.
- Peruvian markets and the Sol currency dipped as Sanchez's vote share rose.
- Sanchez has proposed constitutional reform, pardoning ex-President Pedro Castillo, windfall taxes, and reforming mining concessions.
- Fujimori, in her fourth presidential runoff, urged patience and noted pending international ballots expected to favor her.
Leftist congressman Roberto Sanchez has taken a slim lead over conservative candidate Keiko Fujimori in Peru's presidential election, with official vote counting continuing into a second day. With approximately 94.9% of votes tallied, Sanchez held 50.10% of the vote compared to Fujimori's 49.90%.
Fujimori had led early results and exit polls, but Sanchez gained ground as ballots from Peru's rural regions were counted. Sanchez expressed confidence and optimism, stating that Peru's political instability needs to end. Fujimori urged patience and stated she would wait for the final vote count, noting that some international polling stations were yet to be counted and were expected to favor her.
Sanchez has proposed constitutional reform, pardoning jailed ex-President Pedro Castillo, imposing windfall and wealth taxes, and reforming mining concessions. Peru is the world's third-largest copper producer and a major producer of gold, silver, and zinc. The tight outcome has led to market pressure on Peruvian assets, with analysts expecting further pressure, including wider credit spreads, higher local bond yields, and a weaker Peruvian Sol, if Sanchez wins.
The election occurs amid a predicted rightward shift in Latin America, with Peru experiencing significant political turmoil. The winner will become the ninth president in a decade, and Congress has removed three presidents in the last five years. Fujimori is making her fourth presidential runoff attempt.