Peru votes in tight presidential run-off amid rightward shift in Latin America

LIMA: Peruvians are voting in a closely fought presidential run-off on Sunday that could either reinforce Latin America’s shift to the right or bring a left-wing upset that has unsettled financial markets.

Voters are choosing between conservative candidate Keiko Fujimori, daughter of jailed former president Alberto Fujimori, and leftist rival Roberto Sanchez, who has campaigned on reducing inequality and expanding state intervention in the economy.

Opinion polls show the two candidates in a statistical tie.

The election comes as several Latin American countries — including Chile, Argentina, Costa Rica and Ecuador — have recently elected right-leaning governments, while Bolivia ended two decades of socialist rule in its last election.

Crime remains the dominant concern for voters, with rising homicide and extortion rates triggering protests and contributing to political instability in recent years.

Fujimori, who has previously distanced herself from her father’s authoritarian legacy, has leaned into his tough-on-crime policies during the campaign. She secured the first round in April.

“We remember her father’s legacy. He built a good government. He ended terrorism and hyperinflation,” said Willy Policarpo, a supporter who travelled from Huancayo to attend her campaign event.

This marks Fujimori’s fourth presidential run-off. In 2021, she narrowly lost by just over 45,000 votes.

Sanchez, meanwhile, has focused his campaign on Peru’s deep inequality and the divide between urban Lima and rural regions.

He has proposed sweeping reforms, including drafting a new constitution and restructuring mining concessions, pledges that have gained traction among rural and informal mining communities but unsettled investors.

Peruvian markets fell on Friday as polls tightened in his favour.

Both campaigns have warned of possible unrest after a chaotic first round marked by fraud allegations and protest threats.

The winner will also face a fragmented Congress that has contributed to the removal of three presidents in the past five years.

Polling stations opened at 7 a.m. (1200 GMT) and will close at 5 p.m. (2200 GMT). Early results are expected within hours, though the official count may take weeks.