Balcazar elected as Peru’s interim president

Peruvian lawmakers elected Jose Balcazar as the country's new interim president on Wednesday (18 February) ahead of general elections in April.

Balcazar, 83, becomes the country's eighth president in as many years. He replaces Jose Jeri, who was voted out of office by Congress after just four months in power. Jeri’s removal followed a scandal over undisclosed meetings with a Chinese businessman.

Election details

Lawmakers chose Balcazar over centre-right legislator Maria del Carmen Alva by 64 votes to 46 following an hours-long session in Congress.

A left-wing lawmaker, Balcazar will remain in office until the end of the current presidential term on 28 July.

"I will defend the nation's sovereignty, the physical and moral integrity of the Republic, and the independence of its democratic institutions," Balcazar said during a brief swearing-in ceremony.

Political instability

Since 2018, Peru has cycled through a succession of presidents, underscoring deep tensions between the executive branch and Congress.

Despite the political shocks, Peru's economy - the world's third-biggest copper producer - has shown resilience.

Task ahead

Balcazar now faces the mandate of steadying markets and overseeing credible elections.

Peruvians will head to the polls on 12 April to elect a new president, with a run-off vote expected in June.

Gino Costa, a former congressman, said the latest leadership change was unlikely to have a negative impact on the markets

"Nothing has changed, nor will it change, until July 28, when a new legislative and governmental term will begin," Costa said.

Jeri's short tenure

Jeri became president in October after Congress voted to remove his predecessor, Dina Boluarte.

His tenure was overshadowed by controversies, including meetings with businessman Zhihua Yang, who owns retail stores and an energy concession.

• Peruvian Congress removes President Jose Jeri over undisclosed China meetings and hiring allegations

The former president apologised after footage of the meetings emerged but insisted no wrongdoing had occurred.

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