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Attorney General Files Constitutional Complaint Against President Boluarte

PERU
  • The attorney general filed a constitutional complaint against President Boluarte yesterday, relating to alleged bribery after Boluarte received several Rolex watches and other jewellery. Attorney General Juan Carlos Villena said that her receiving the luxury items from a governor amounted to accepting bribes. A constitutional complaint is the first step to charging a president and needs to be reviewed by congress. Ultimately, it would be up to the courts to decide whether to put her on trial after her term ends in July 2026.
  • The ongoing scandals continue to weigh on the President’s popularity, with her approval rating falling to just 5% according to the latest poll. 90% of people also now disapprove of her government.
  • Data wise, the calendar is light this week, ahead of May CPI data due on June 1st. Analysts expect headline inflation to moderate further to 2.23% y/y, from 2.42%.
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