LatAm in Focus: Could the 2026 Vote Be Peru’s Political Reset?
LatAm in Focus: Could the 2026 Vote Be Peru’s Political Reset?
Bloomberg’s Marcelo Rochabrún and Universidad del Pacifico’s Javier Albán analyze what to expect a year ahead of the presidential vote.
On April 12, 2026, Peru will hold presidential and congressional elections, as confirmed by President Dina Boluarte on March 25.
The vote will mark the close of a turbulent five-year term that began with Pedro Castillo’s victory in 2021, was thrown into upheaval with his attempted “self-coup” in 2022, and is currently being completed by Boluarte, Castillo’s former vice president. Boluarte is one of the world’s least popular presidents today, with an approval rating of just 4 percent, according to an April poll. Yet, as the seventh president of Peru in ten years, she secured support from Congress and is finishing her term.
A year out from the election, what are the prospects for a jaded electorate that has dealt with extraordinary political instability over the past decade?
In the last 10 years, seven presidents have cycled through the office, four of whom were ousted or resigned under pressure of impeachment. “Peru is part of a small group of countries in Latin America—and the world—that has a single-chamber parliament,” explained Marcelo Rochabrún, Bloomberg’s Lima Bureau Chief. “That means impeaching a president only requires filing a motion in that chamber, securing two-thirds of the vote, and within 72 hours, the president can be out.” This is set to change in 2026, when Peru will transition back to a bicameral legislature with both a Senate and a Chamber of Deputies.
The change will make it more difficult to impeach a president. But at the same time, other legislation moves have “lowered the bar” for the creation of political parties, says Javier Albán, an electoral expert and Professor of Constitutional Law at Universidad del Pacífico in Lima.
As Peru heads into its next electoral cycle, voters are bracing for what could be a record-breaking number of presidential candidates. So far, 43 political parties are officially registered. While coalitions, alliances, and disqualifications are expected to narrow the field, experts predict the final list could surpass the 18 candidates who ran in the last election. “Whenever you have a presidential system with a two-round election, like in Peru, it tends to encourage fragmentation—parties have fewer incentives to unite early on,” said Albán.
Still, by looking at recent elections, Albán has identified a geographical-ideological divide that may help predict what’s to come in 2026: a more conservative candidate with support concentrated in Lima against a left-leaning contender who consolidates votes in southern and central regions. “The big question,” Albán said, “is who’s going to capture those key voting blocs.”
In the upcoming elections, public safety is expected to dominate the conversation. “This will only inspire candidates to come up with radical anti-crime policies, where the figure of president [Nayib Bukele] of El Salvador is on the rise and there are already several people talking about being copycats,” said Rochabrún.
At the same time, Rochabrún points out that Peru’s economy remains relatively stable, thanks in part to strong metal prices and high export volumes—making it a less pressing issue on the campaign trail. But looking ahead, he believes the most critical decision for the next president will be economic continuity. “The single most important task,” he says, “is to keep Julio Velarde as head of Peru’s Central Bank. Whether the bank continues along the successful path it’s followed under Velarde for the past 20 years or not—that will be the most important factor.”
Bolivia, Chile, Ecuador, and Honduras will hold presidential votes. Plus, Argentina holds midterms and Canada picks a new leader.
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