Right-wing presidential candidate Keiko Fujimori maintained a razor-thin lead over leftist challenger Roberto Sanchez on Monday as Peru’s electoral authorities continued reviewing thousands of disputed ballots, leaving the outcome of one of the closest presidential elections in the country’s history unresolved.
According to Peru’s National Office of Electoral Processes, Fujimori held 50.051% of the vote after 98.59% of ballots had been counted, leading Sanchez by just over 18,300 votes. The narrow margin means the official result remains pending while electoral officials examine contested ballots submitted after the June 7 runoff election.
The country’s electoral board began reviewing challenged votes last Thursday, a process that authorities have warned could take days or even weeks before a final winner is declared. The prolonged count has heightened political tensions in a country already marked by years of instability and frequent changes in government.
Fujimori, the daughter of former President Alberto Fujimori, regained the lead midway through last week after overseas ballots were incorporated into the count. Votes cast by Peruvians living abroad proved significant in shifting the balance of the race in her favor after Sanchez had briefly held the advantage.
Sanchez spent the weekend in the Andean region of Cusco, one of his strongest electoral bases, where he met supporters and questioned aspects of the ongoing vote review. He said he remained suspicious about the recount process, although he did not provide evidence of wrongdoing.
Last week, Sanchez formally requested that approximately 400,000 overseas ballots be invalidated, arguing there had been irregularities in how the votes were transported. Electoral authorities rejected the request, allowing those ballots to remain part of the official tally.
Supporters of the leftist candidate have staged peaceful demonstrations in Lima in recent days following Sanchez’s calls to defend what he described as the people’s vote. Hundreds of protesters gathered outside electoral offices, demanding transparency throughout the counting process while avoiding clashes with security forces.
International election observers have urged patience as the review continues. Observation missions from the Organization of American States and the European Union said in separate briefings after the runoff that voting had proceeded normally and encouraged political leaders and the public to respect the official certification process given the exceptionally close result.
The election has drawn intense attention from investors and business leaders concerned about the direction of Peru’s economy. Sanchez, whose campaign has received the backing of former leftist President Pedro Castillo, has unsettled financial markets with proposals that critics argue could alter the country’s economic model.
Castillo, once Peru’s president, is currently serving an 11-year prison sentence after attempting to dissolve Congress and assume sweeping powers during the political crisis of late 2022. His endorsement has become a central feature of Sanchez’s campaign as the left seeks a return to power.
Financial markets reacted positively after Fujimori regained the lead. Traders reported a recovery in both stock and foreign exchange markets following an earlier selloff driven by uncertainty over the election outcome and concerns about potential policy shifts under a Sanchez administration.
Despite the market response, political uncertainty is expected to persist until electoral authorities complete their review of contested ballots and formally certify the winner. With less than two-tenths of one percentage point separating the candidates, every remaining challenged vote could prove decisive in determining Peru’s next president.
The prolonged counting process underscores the extraordinary closeness of the election and the importance of the legal review now underway. Until the electoral board finishes examining disputed ballots and resolves outstanding challenges, Peru will remain without a confirmed president-elect, while both campaigns continue monitoring every stage of the certification process.
