Peru: The K. Fujimori transition: Congress, the southern question, and the capex unlock

Research evidence excerpt

Peru: The K. Fujimori transition: Congress, the southern question, and the capex unlock

J P M O R G A N Latin America Economic Research

22 June 2026

Peru

The K. Fujimori transition: Congress, the southern

question, and the capex unlock

Peru has produced its second consecutive 50.1-49.9% presidential runoff. With the Economic and Policy Research

ONPE count at 99.7%, Keiko Fujimori holds approximately 50.11% of valid votes Diego W. Pereira

against 49.89% for Roberto Sánchez, a lead of around 41,000 votes out of 19.6 (1-212) 834-4321

million valid ballots. The structural geography is the same one that has defined diego.w.pereira@jpmorgan.com

every Peruvian runoff since 2011: Sánchez dominated the rural Andean interior J.P. Morgan Securities LLC

and the South, while Fujimori carried Lima and, decisively, the overseas vote,

where her margin of roughly 80,000 ballots more than accounts for the national

gap.

The contestation has now largely collapsed. Juntos por el Perú had sought the

annulment of more than 2,300 tables, 1,751 across 36 districts of Lima

Metropolitana and 647 among voters in the United States. On June 19, after a public

hearing, the JNE plenum declared those appeals “improcedentes.” The decisive

moment was evidentiary: under questioning, JPP’s counsel acknowledged that no

documentary proof of fraud had been submitted, that the Lima petition rested

principally on statistical “coincidence” analysis, and that party poll-watchers had

reported no anomalies on election day. JNE President Roberto Burneo stated that

a statistical analysis does not by itself constitute proof of electoral fraud. The ruling

is final within the electoral jurisdiction. In parallel, the JNE formally proclaimed

the bicameral Congress on the same day.