This article is adapted from AQ’s special report on the Trump Doctrine
Peru
INTERIM PRESIDENT
José María Balcázar
IN OFFICE
Since 2026
Peru is facing a highly unpredictable election year following the impeachment of former Interim President José Jerí over alleged misconduct (he denies any wrongdoing). The country’s new leader, José María Balcázar, will be in office until July 28. The presidential field remains splintered ahead of the April 12 general election; a potential runoff is scheduled for June 7. Peruvians will also elect members of the Senate and lower house, returning to a bicameral legislature. In a December Ipsos survey, 66% of Peruvian respondents said crime and violence are their top concern. The national homicide rate jumped 36% from 2023 to 2024, and from January to September 2025 there were more than 20,000 reports of extortion, up 29% from the same period in 2024. The IMF has warned that “lingering political uncertainty weighs on economic prospects,” and expects growth to moderate this year.
TRENDS TO WATCH
- April general election
- Social discontent over rising crime
- Moderate economic growth
GDP GROWTH
INFLATION RATE
KEY FIGURES
| Population (2026, millions) | 34.8 |
| Poverty rate (2026, World Bank definition, see note below) | 34.2% |
| Unemployment rate (2026) | 6.5% |
| Informal employment rate (2024) | 71.4% |
| Secondary education completion rate (2023) | 86.5% |
ECONOMIC INDICATORS (2026 PROJECTIONS)
| GDP growth (annual % change) | 2.7% |
| Inflation rate (annual % change) | 1.9% |
| Fiscal balance (% GDP) | -2.2% |
| China’s share of total export value (2024) | 33.8% |
| U.S. share of total export value (2024) | 12.8% |
NOTES: Poverty line is $8.30 per day in 2021 PPP. Percentages rounded to nearest decimal point.
SOURCES: GDP growth, inflation, fiscal balance, population, unemployment: IMF (Oct. 2025); Share of total export value: International Trade Centre; Poverty rate: World Bank (Oct. 2025); Informal employment rate: ILO; Secondary education completion rate: IDB.
Click here to access a comparative data table.
ABOUT THE AUTHOR
Emilie Sweigart
Reading Time: 2 minutesSweigart is an editor at Americas Quarterly and a policy manager at the Americas Society/Council of the Americas
