Peru's Presidential Crisis: 10 Leaders in 10 Years Explained

1. A Decade of Presidential Turnover (2016–2026)

Peru cycled through 10 presidents in 10 years: Kuczynski resigned amid corruption (2018), Vizcarra was impeached for influence peddling (2020), Merino lasted 5 days before resigning, Sagasti finished the term, Castillo attempted a power grab (late 2022), Boluarte faced impeachment (October 2025), Arce was removed after 130 days for failing to disclose Chinese meetings, and Balcázar finished the remainder despite controversy over past comments.

2. Structural Causes of Political Instability

Peru's Constitution makes impeachment easy with the vague standard of 'moral incapacity,' allowing Congress to remove presidents. Combined with political polarization, corruption scandals, and executive-legislative tensions, this has created constant churn in leadership and enabled Congress to wield de facto control over the country.

3. Congressional Power and Democratic Backsliding

Congress, deeply unpopular with the public, has consolidated power by pushing reforms rejected in a 2018 referendum, including creating a Senate and lifting reelection bans for lawmakers. These moves undermined separation of powers, concentrated legislative authority, weakened rule of law, and pressured the judiciary and civil society.

4. Economic Resilience Amid Political Chaos

Despite 10 presidential changes, Peru's mining-heavy economy has remained surprisingly insulated from political turmoil. The industry produces copper, gold, and resources worth ~10% of GDP; high global commodity prices have supported growth. Consistent central bank leadership under Julio Velarde for 20+ years has effectively stewarded the economy across 10 presidencies.

5. The 2026 Election: Fujimori vs. Sanchez

A record 36 candidates ran in April's first round. Keiko Fujimori (right-wing populist, law-and-order, neoliberal) and leftist Roberto Sanchez (seeking state control of resources) advanced to a runoff. Sanchez appealed to rural and indigenous voters, while Fujimori leveraged her Fujimorismo ideology and congressional allies.

6. The Razor-Thin Runoff Result

On election day, Fujimori won 50.002% versus Sanchez's 49.998%—a margin of just over 600 votes with 98% counted. Roughly 1.7% of ballots face review, meaning the official result could take weeks. This is effectively a statistical tie and one of the closest elections on record.

7. Implications for Fujimori's Presidency

Fujimori benefits from stronger congressional backing and a business-friendly reputation, giving her a better chance of finishing a full term than predecessors. However, her near-zero victory margin—secured mainly by overseas voters while Sanchez won the Peru-based electorate—undermines her mandate and legitimacy, especially given deep anti-Fujimori sentiment tied to her father's human rights abuses.

8. Deepening Public Disillusionment

Peruvians already distrust political institutions and figures. Fujimori's wafer-thin victory, combined with the fact that her first-choice support was under 18%, threatens to deepen public disillusionment. Regional divisions remain sharp, particularly in southern rural Andes areas that voted overwhelmingly against her and will be difficult to govern.