Welcome again Foreign Policy‘s Latin America Brief.
Highlights this week: Peru awaits its results presidential electionActing President of Venezuela Delcy Rodríguez is visiting India and Turkeyand World Cup starts in Mexico City.
Peru’s presidential runoff on June 7 was so close—and counting so slowly—so it could be a week before the results are fully confirmed. As of Thursday afternoon local time, plus 98.2 percent of the votes counted, less than 1,000 votes separated the right-wing Keiko Fujimori from her left-wing rival, Roberto Sánchez.
Both candidates are former parliamentarians, but while Fujimori gained national fame for defending the legacy of his father-former President Alberto Fujimori-Sánchez is from the party of former President Pedro Castillo, elected in 2021. Fujimori focused his campaign on law and order, while Sánchez focused more on addressing economic inequality.
The vote has put Peruvians on edge, wondering not only who their president will be but also whether the winner can govern well in a country that has forced out six of its nine leaders in a decade.
Whether the defeated candidate accepts the result will provide an early indication of how fierce Peru’s opposition will be under the new administration. By Thursday, both campaign He had allegations of violation of voting procedures and wanted an investigation to be done.
Turn on WednesdayPeru analysts he noted that the remaining uncounted votes appeared to favor Fujimori. Although external polls also exist to break much to Fujimori, those who acted in Peru seem to favor Sánchez.
If Fujimori wins, Peru will become the latest South American country to swing to the right in presidential elections. But unlike Javier Milei’s assured victory in Argentina, for example, Fujimori’s success would reflect a deeply divided electorate. In particular, Fujimori managed his speech before the first round of elections when he was faced with a candidate more to the right.
Sánchez’s performance provides further evidence that Peruvians are suspicious of right-wing leaders. Sánchez attended centrist voters in recent weeks, painting himself as an institutionalist. In doing so, he distanced himself from his partner Castillo, who was removed from office in 2022 after attempting to dissolve parliament and rule by decree.
The next president of Peru—whoever he may be—will struggle with a conference divided between left, right and center camps. The narrow presidential results suggest a weak mandate for the winner, but institutional changes could strengthen the next administration’s prospects for survival.
On July 28, Peru will restore bicameral parliament after three decades of unicameralism. Under the new system, impeaching the president will be a more complicated process, requiring approval from both chambers.
Peru’s election may foreshadow developments elsewhere in the region. Colombia will hold its second round of presidential elections on June 21. There, the right-wing candidate, Abelardo de la Espriella, is leading the polls and has is excluded more radical than Fujimori, promising to cut 40 percent of government spending and detain suspected criminals.
Although their styles differ, de la Espriella and Fujimori may soon become the newest stars in a growing constellation of right-wing leaders.
Tuesday, June 16, to Wednesday, June 17: Brazilian President Luiz Inacio Lula da Silva attending the G-7 meeting in France.
Mexico and the United States are holding a second round of talks as part of a review of their trade deal with Canada.
Sunday, June 21: Colombia holds repeat presidential elections.
Monday, June 22: The United States of America begins its regular session of the General Assembly in Panama City.
Artists perform during the opening ceremony of the 2026 World Cup before the match between Mexico and South Africa in Mexico City on June 11.Yuri Cortez/AFP via Getty Images
The World Cup is starting. The biggest sporting event in the world opened Thursday in Mexico City, starting with a match between Mexico and South Africa. The preparation of the championship—organized jointly by Canada, Mexico, and the United States—was experienced by anxiety about restrictive US immigration policies that prevent fans, players and referees from entering the country.
Due to this situation, the leaders of Mexico played the openness of their country to all nations; Mexico has fewer visa requirements for visitors than its host. Due to the nature of its patient fans and strong soccer culture, Mexico can emerge as the soft power winner from the competition, several experts told Foreign Policy.
The fan experience outside the stadium is “fundamental” to how each World Cup is cemented in the international memory, said Adriano de Freixo, an international relations scholar at the Federal University of Fluminense in Brazil.
However, fans visiting Mexico City may also encounter many protests over labor disputes and missing persons linked to gang violence. Mexico City leader Clara Brugada he said this week protests and soccer matches can be held in the democratic city.
For more on Mexico’s soft power, read my full analysis here.
Brazilian Yuan bond. Brazil plans to issue its first sovereign bond denominated in Chinese yuan this month, Reuters information last Friday, citing unnamed sources. Brazil’s Finance Ministry declined to comment. The move is similar to that of Brazil long term strategy of changing commercial and financial relations beyond the US dollar.
Proponents of such diversification argue that transacting in multiple currencies could reduce Brazil’s exposure to dollar-based financial shocks and protect it from future sanctions.
Brazil already issues government bonds in dollars and euros, with elevated some 4.5 billion dollars in dollar bonds in February and equal to approx 5.9 billion dollars through the sale of euro bonds in April. Most of its main debt is sect in real Brazil.
Argentine rock star dies. This week, the Argentines are there to remember Carlos “Indio” Solari, whose concerts drew tens of thousands of fans who would camp out for days at the low-tech, alt-rock-infused festivals. Although relatively unknown outside of Argentina and Uruguay, Solari’s last show in 2017 attracted around 400,000 people. He died last Friday at the age of 77.
Solari’s songs became a rallying cry for political activists over the years. “His high-level but workmanlike style of poetry is very Argentinian” and shows how musical cultures can resist globalisation, sociologist Pablo Alabarces said. Guardian.
Milei rejected the request to ask Solari in the country’s parliament building; it took place in the working-class neighborhoods of Buenos Aires instead, attracting tens of thousands of mourners.
Which country is in the same World Cup group as Mexico and South Africa?
Japan
The Netherlands
Scotland
South Korea
The fourth member of Group A is the Czech Republic.
Acting President of Venezuela Delcy Rodríguez shaking hands with Indian Prime Minister Narendra Modi in New Delhi on June 4.Arun Sankar/AFP via Getty Images
Acting President of Venezuela Delcy Rodríguez returned this week from a four-day visit Indiafollowed by a stand up in Turkey. It was his farthest foreign trip since taking office after the US arrested President Nicolás Maduro in January.
The trip highlights Rodríguez’s efforts to develop international relations beyond his administration’s close relationship with the United States—but also shows how influential Washington is in shaping them.
US Secretary of State Marco Rubio in public he announced Rodríguez’s trip to India before an Indian or Venezuelan official did so. Trump has suggested that India could buy more Venezuelan oil to wean itself off Russian supplies, even hint that such purchases could be part of a US-India trade agreement.
In New Delhi, Rodríguez met with representatives from Indian oil companies, emphasizing the significant increase in Venezuelan imports in recent months. Venezuela has become India four in size oil suppliers, exporting volumes to India that have not been seen since 2020according to the data company Kpler.
The increase comes amid pressure from the United States against Russian oil imports from India as well reduced speed in the transportation of oil through the Strait of Hormuz. Indian officials and companies have indicated that more purchases and even direct investment in Venezuela may be imminent, although such moves would require Venezuela. calm down 500 million dollars in debt to the Indian oil company ONGC Videsh.
Although Turkey has not increased its oil imports from Venezuela, Rodríguez’s visit there seemed to confirm it solid partnership between Caracas and Ankara. Turkey was among the few countries that recognized Maduro’s victory in the 2024 elections despite being strong evidence suggesting he lost.
