LATAM Corporates Daily: Your daily dose of all things LatAm

Research evidence excerpt

LATAM Corporates Daily: Your daily dose of all things LatAm

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

23 June 2026

LATAM Corporates Daily

Your daily dose of all things LatAm

Highlights Latin America Corporate Research

Natalia Corfield AC

• Peru: The K. Fujimori transition – Congress, the southern question, and the (1-212) 834-9150

capex unlock natalia.corfield@jpmorgan.com

J.P. Morgan Securities LLC

• Brazilian aviation sector to receive financing lines from FNAC Alejandra Andrade

• World Cup in focus: Race for the 2026 World Cup Golden Boot is already (1-212) 834-3220

getting interesting alejandra.andrade@jpmorgan.com

• Performance Ian B Snyder

(1-212) 834-3798

Prices in this note are as of June 22, 2026. ian.b.snyder@jpmchase.com

Florencia Palacios

Peru: The K. Fujimori transition – Congress, the southern question, and the (1-212) 622-1129

capex unlock florencia.x.palacios@jpmorgan.com

Peru’s presidential runoff was extremely close, with Keiko Fujimori narrowly Bhavya Gupta

ahead of Roberto Sánchez as of 99.7% of the count, and legal challenges dismissed, (91-22) 6157-3132

paving the way for her likely formal proclamation in July. With a new bicameral bhavya.x.gupta@jpmchase.com

Congress where Fujimori’s bloc holds a plurality, the risk of presidential removal J.P. Morgan India Private Limited

is lower, but political tension may shift to coalition management and potential

unrest in the Andean South, where opposition is strongest and most mining projects

are located. Fujimori’s agenda combines market orthodoxy (fiscal discipline,

deregulation, investment) with redistributive measures like “Canon para el

Pueblo,” aiming to channel mining royalties directly to local households to secure

social license and unlock a US$64 billion mining capex pipeline. The government