Incoming Peruvian President Keiko Fujimori announced she will appoint Central Reserve Bank President Julio Velarde for another term, Bloomberg reported on July 6.

The announcement was made three days after Fujimori was officially declared the winner of the June 7 presidential runoff after weeks of uncertainty amid a very narrow dispute with Sanchez. Velarde has led Peru's monetary authority for almost 20 years and is considered an anchor of stability amid the political turmoil that has affected Peru over the past decade. Peru's GDP grew over 3.5% in 2024 and 3.4% 2025 and is forecast to expand by 2.8% in 2025, according to the International Monetary Fund. In June, the central bank held its policy rate steady at 4.25% for the ninth consecutive month, as inflation hovers around 4% amid global energy shocks.