Peru's Congress elected leftist lawmaker Jose Maria Balcazar, 83, as interim president after removing Jose Jeri amid corruption allegations.

In a region where political upheaval often rattles markets, Peru is an outlier. This week's turbulence has caused few ⁠ripples in the ⁠markets as the country again demonstrates resilience in the face of a crisis that would trigger ​sharp selloffs in other economies.

Peru’s Congress has ousted interim President José Jerí, deepening the country’s political churn just before the April election.

President José Jerí was ousted just four months into his term, becoming the Andean nation’s third consecutive president to be removed from office.

Jose Balcazar gestures after he was elected as interim president, following a session by Peruvian lawmakers to choose a new leader of Congress to assume Peru's presidency, after they ousted President Jose Jeri over a scandal involving undisclosed meetings with a Chinese businessman, in Lima, Peru, February 18, 2026. REUTERS/Angela Ponce

Just four months into his term, Peru’s President Jose Jeri has been impeached and removed from office. The decision was the result of a Tuesday vote from Peru’s Congress, which debated multiple corruption allegations against Jeri’s government.