Peru's presidential race remains uncertain as vote count nears completion

Peru’s presidential election remains unresolved as the vote count nears completion, with conservative Keiko Fujimori leading at around 17%. The race for the second runoff spot is fiercely contested, with leftist congressman Roberto Sánchez and far-right former Lima Mayor Rafael López Aliaga separated by less than a percentage point, according to The Rio Times and France 24. Over 90% of ballots have been tallied, but no candidate has secured a clear position to face Fujimori in the June runoff.

Recent counts show Sánchez overtaking López Aliaga for second place, reaching approximately 12% compared to López Aliaga’s close 11.7%, as reported by The Rio Times and The Straits Times. Sánchez's surge has come as rural and southern precincts finish counting, tightening the race and prompting concerns of potential recounts or legal challenges. López Aliaga has petitioned to suspend the election results, alleging electoral fraud, which raises the possibility of disputes or protests in the coming days, according to The Rio Times and France 24.

Market reactions reflect the political uncertainty, with Peruvian stocks dropping amid Sánchez’s growing support and investors worried about a return to left-wing governance destabilizing the economy. The currency also experienced fluctuations, notably a sharp drop in the dollar’s value correlated with Sánchez’s gains, The Rio Times reports.

The election is entering a critical phase as electoral authorities finish counting votes and validate results. With only days remaining, close monitoring is expected over Sánchez and López Aliaga’s final numbers, as well as any official challenges to the vote. The outcome will determine the candidates in the runoff scheduled for June and will influence Peru’s political and economic trajectory in the near future.