Welcome back to Foreign Policy<\/em>\u2019s Latin America Brief.<\/p>\n

The highlights this week: Peru awaits results for its presidential election<\/strong>, acting Venezuelan President Delcy Rodr\u00edguez visits India and Turkey<\/strong>, and the World Cup<\/strong> kicks off in Mexico City.<\/p>\n

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Peru\u2019s presidential runoff on June 7 was so close\u2014and vote counting so slow\u2014that it could be weeks<\/a> before the results are fully confirmed. As of Thursday afternoon local time, with 98.2 percent<\/a> of ballots counted, fewer than 1,000 votes separated right-wing Keiko Fujimori from her left-wing opponent, Roberto S\u00e1nchez.<\/p>\n

Both candidates are former lawmakers, but while Fujimori rose to national prominence by defending the legacy of her father\u2014former President Alberto Fujimori\u2014S\u00e1nchez hails from the party of former President Pedro Castillo, elected in 2021. Fujimori centered<\/a> her campaign on law and order, while S\u00e1nchez\u2019s focused more on addressing economic inequality.<\/p>\n

The down-to-the-wire vote has put Peruvians on edge, wondering not only whom their president will be but also whether the winner can govern effectively in a country that has forced out six of its nine leaders in a decade.<\/p>\n

Whether the losing candidate accepts the result will offer an early indication of how combative Peru\u2019s opposition will be under a new administration. By Thursday, both<\/a> campaigns<\/a> had alleged some ballot irregularities and called for investigation.<\/p>\n

On Wednesday<\/a>, Peruvian analysts<\/a> noted<\/a> that the remaining uncounted votes appeared to favor Fujimori. Though overseas votes are also breaking<\/a> heavily for Fujimori, those cast within Peru seem to favor S\u00e1nchez.<\/p>\n

If Fujimori wins, Peru will become the latest Latin American country to swing to the right in a presidential election. But unlike the decisive victory of Javier Milei in Argentina, for example, Fujimori\u2019s success would reflect a deeply divided electorate. Notably, Fujimori moderated her rhetoric ahead of the first-round election when faced with a candidate<\/a> further to the right.<\/p>\n

S\u00e1nchez\u2019s strong performance offers more evidence that Peruvians are skeptical of right-wing leaders. S\u00e1nchez courted<\/a> centrist voters in recent weeks, painting himself as an institutionalist. In doing so, he implicitly distanced himself from his ally Castillo, who was removed from office in 2022 after attempting to dissolve the legislature and rule by decree.<\/p>\n

Peru\u2019s next president\u2014whomever it is\u2014will grapple with a congress<\/a> divided<\/a> among left, right, and centrist blocs. The narrow presidential result suggests a weak mandate for the victor, but institutional changes may strengthen the next administration\u2019s prospects for survival.<\/p>\n

On July 28, Peru will restore<\/a> a bicameral legislature after three decades of unicameralism. Under the new system, impeaching a president will be a more cumbersome process, requiring approval from both chambers.<\/p>\n

Peru\u2019s election could foreshadow developments elsewhere in the region. Colombia will hold its own presidential runoff on June 21. There, a right-wing candidate, Abelardo de la Espriella, leads the polls and has staked out<\/a> a more radical position than Fujimori, pledging to slash 40 percent of government spending and carry out mass detentions of suspected criminals.<\/p>\n

Though their styles differ, de la Espriella and Fujimori could soon be the newest stars in a growing regional constellation of right-wing leaders.<\/p>\n\n

Tuesday, June 16, to Wednesday, June 17:<\/strong> Brazilian President Luiz In\u00e1cio Lula da Silva attends the G-7 summit in France.<\/p>\n

Mexico and the United States hold a second round of negotiations as part of the review of their trade deal with Canada.<\/p>\n

Sunday, June 21:<\/strong> Colombia holds a presidential runoff election.<\/p>\n

Monday, June 22:<\/strong> The Organization of American States begins a regular session of its General Assembly in Panama City.<\/p>\n\n

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\n <\/span>Artists perform during the opening ceremony of the 2026 World Cup ahead of the match between Mexico and South Africa in Mexico City.<\/figcaption>
Artists perform during the opening ceremony of the 2026 World Cup ahead of the match between Mexico and South Africa in Mexico City on June 11.Yuri Cortez\/AFP via Getty Images<\/span> <\/p>\n<\/div>\n
World Cup kicks off.<\/strong> The world\u2019s biggest sporting event opened<\/a> on Thursday in Mexico City, beginning with a match between Mexico and South Africa. The run-up to the tournament\u2014co-hosted by Canada, Mexico, and the United States\u2014was fraught with concerns<\/a> about restrictive U.S. immigration policies inhibiting fans, players, and referees from entering the country.<\/p>\n
Against that backdrop, Mexican officials played up their country\u2019s openness to all nationalities; Mexico has fewer visitor visa requirements than its co-hosts. Due to its tolerant fan atmosphere and strong soccer culture, Mexico could emerge<\/a> as a soft-power winner from the tournament, several experts told Foreign Policy<\/em>.<\/p>\n
Fans\u2019 experience off the field is \u201cfundamental\u201d for how each World Cup is cemented in international memory, said Adriano de Freixo, an international relations scholar at Federal Fluminense University in Brazil.<\/p>\n
However, fans visiting Mexico City may also encounter widespread demonstrations over labor disputes and disappeared persons linked to cartel violence. Mexico City leader Clara Brugada said<\/a> this week that protests and soccer matches can coexist in a democratic city.<\/p>\n
For more on Mexico\u2019s soft-power potential, read my full analysis <\/em>here<\/em><\/a>.<\/em><\/p>\n
Brazil\u2019s yuan bond.<\/strong> Brazil plans to announce its first sovereign bond denominated in Chinese yuan this month, Reuters reported<\/a> last Friday, citing unnamed sources. Brazil\u2019s Finance Ministry declined to comment. The move aligns with Brazil\u2019s long-term strategy<\/a> of diversifying trade and financial relationships beyond the U.S. dollar.<\/p>\n
Proponents of such diversification argue that transacting in multiple currencies can reduce Brazil\u2019s exposure to dollar-driven financial shocks and shield it from potential future sanctions.<\/p>\n
Brazil already issues government bonds in dollars and euros, having raised<\/a> some $4.5 billion<\/a> in dollar-denominated bonds in February and the equivalent of roughly $5.9 billion<\/a> through euro-denominated bond sales in April. Most of its sovereign debt is denominated<\/a> in Brazilian real.<\/p>\n
Argentine rock star dies.<\/strong> This week, Argentines are remembering<\/a> Carlos \u201cIndio\u201d Solari, whose concerts drew tens of thousands of fans who would camp out for days in low-tech, alt-rock-infused celebrations. Though relatively unknown outside of Argentina and Uruguay, Solari\u2019s final show in 2017 attracted an estimated 400,000 people. He died last Friday at age 77.<\/p>\n
Solari\u2019s lyrics became rallying cries for political activists over the years. His \u201ccryptic yet working-class poetic style is very Argentine\u201d and shows how musical traditions can resist globalization, sociologist Pablo Alabarces told the Guardian<\/em>.<\/p>\n
Milei rejected a request to hold a wake for Solari in the country\u2019s congress building; it was held in the working-class suburbs of Buenos Aires instead, attracting tens of thousands of mourners.<\/p>\n\n
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Which country is in the same World Cup group as Mexico and South Africa?<\/p>\n<\/p><\/div>\n
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