Overview

• Peru’s Congress removed Dina Boluarte with 122 of 130 votes, and José Jerí was sworn in as president.
• Fitch says the rapid transition underscores persistent institutional volatility and heightens uncertainty over public policy ahead of the 2026 vote.
• The agency warns that Congress and the executive could advance electorally attractive steps such as additional pension withdrawals that would erode medium‑term fiscal sustainability.
• Fitch notes Jerí may prioritize high‑profile security actions and could seek special powers, while a lack of a clear mandate would constrain resistance to congressional populism.
• Fitch also flags repeated misses of the 2.2%‑of‑GDP deficit target and reliance on one‑off revenues, increasing the risk that public debt surpasses official projections.