Peru Ousts Another President — Its Seventh in a Decade

• Congress voted 75-24 to remove interim president José Jerí after just 130 days, over secret meetings with a Chinese businessman linked to government contracts
• Peru has now had seven presidents in ten years — yet its economy grew 3.4% in 2025 and is projected near 3% this year, one of the region’s strongest performances
• A new interim leader will be chosen Wednesday from Congress, with general elections already scheduled for April 12

Peru removed its president again on Tuesday — the seventh time in a decade. Congress voted 75 to 24 to oust interim president José Jerí, a 39-year-old lawyer who lasted just 130 days in office, in what has become an almost routine political ritual in the Andean nation.

The scandal that ended Jerí’s presidency is known locally as “chifagate.” Journalists revealed that Jerí held secret, unregistered meetings with Chinese businessman Zhihua Yang, who holds millions in government contracts, at a restaurant and a private store. In one encounter, Jerí arrived wearing a hood to avoid detection. Prosecutors opened an investigation for suspected influence trafficking.

The paradox that puzzles economists

The succession chain tells a story of institutional erosion. Jerí replaced Dina Boluarte, ousted over corruption. Boluarte replaced Pedro Castillo, removed for attempting a self-coup in 2022. Before them came Sagasti, Merino (who lasted five days), Vizcarra and Kuczynski. The last president to complete a full term was Ollanta Humala in 2016.

Yet Peru’s economy keeps growing as if none of this were happening. GDP expanded 3.4% in 2025, mining investment rose sharply, and BBVA Research projects around 3.1% growth this year. Inflation sits comfortably at 1.5%, the sol has strengthened, and public debt remains below 33% of GDP — metrics that most Latin American peers would envy.

Congress will elect a new head of parliament on Wednesday evening, who automatically becomes interim president. Four candidates from across the spectrum have been announced, but whoever wins inherits a country with elections already set for April 12 — meaning they will govern for barely five months.

The deeper question Peru poses is whether a democracy can function indefinitely on economic autopilot while its political class cycles through leaders at a pace that would be farcical if it weren’t destabilizing. Business confidence has held so far, but analysts warn that cumulative erosion of governance — compounded by a worsening crime wave — cannot stay disconnected from economic performance forever. This is part of The Rio Times’ daily coverage of Peru affairs and Latin American financial news.

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