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Moody’s believes Peru’s President-elect Keiko Fujimori is well-positioned to strengthen investor confidence by maintaining economic policy continuity and protecting the country’s key institutions. According to the ratings agency, her administration is expected to preserve Peru’s market-friendly approach, creating a more stable environment for investment despite ongoing political divisions and fiscal challenges.
In a report released on Thursday, Moody’s said Fujimori’s government is likely to uphold the independence of Peru’s central bank while continuing to respect contract enforcement and private property rights. These institutional safeguards are viewed as essential for maintaining investor trust and supporting long-term economic stability in one of Latin America’s leading mining economies.
The agency noted that consistent economic policies could help unlock delayed investments in the mining and infrastructure sectors, both of which are critical drivers of Peru’s economic growth. By reducing uncertainty surrounding major projects, the government could encourage new capital inflows and help sustain annual economic growth close to the average 3.5% recorded during 2024 and 2025.
While Moody’s expects political risks to ease under the incoming administration, it cautioned that they are unlikely to disappear entirely. Peru continues to face a deeply polarized political environment, and the country’s fragmented Congress may still generate legislative gridlock and periodic political uncertainty. These challenges could continue to weigh on Peru’s overall credit profile, even if the investment climate improves.
The ratings agency also highlighted Peru’s relatively strong fiscal position. Government debt remains around 30% of gross domestic product (GDP), providing the country with significant capacity to absorb economic shocks compared with many regional peers. However, Moody’s emphasized that investors will be watching closely to see how quickly the new administration can reduce the fiscal deficit and strengthen public finances.
Keiko Fujimori secured the presidency on her fourth attempt, narrowly defeating left-wing rival Roberto Sanchez by just over 49,000 votes, representing a slim margin of approximately 0.3 percentage points. The close election result underscores the country’s political divisions, but Moody’s believes policy continuity under Fujimori could provide reassurance to domestic and international investors while supporting Peru’s long-term economic outlook.
