The Latin American Report # 706

Peru is a country in constant democratic upheaval, victim of a sort of chronic heart attack that strikes with full force at the political heart of the nation, the House of Pizarro itself. Lima, sadly, is increasingly synonymous with corruption and imprisoned former presidents, following the dismissal last Tuesday of José Jerí, who will no longer be able to attend the March-scheduled summit of right-wing leaders with Trump in Miami.

Late on Wednesday night, the Peruvian Congress elected veteran leftist legislator José María Balcázar as the new interim president, an interesting surprise given that right-wing candidate María del Carmen Alva was the favorite for the position. Balcázar will serve—if he does not also manage to stain the institution with shame—until July 28th, when the winner of the general elections scheduled for April 12th will assume power. Balcázar represents the Marxist party Perú Libre, with which the convicted Pedro Castillo won the presidency in 2021.

_{José María Balcázar was elected as the new interim president by the Peruvian Congress (source).}

In the last ten years, we have witnessed eight more or less turbulent presidential changes in Peru. Jerí, who lasted only four months, fell into disgrace after it was revealed that he had held semi-clandestine meetings with Chinese businessmen, one of them particularly controversial because he went hooded to a restaurant owned by one of these entrepreneurs. Furthermore, his image was also morally devalued because five young women obtained state contracts after meeting with him; one of them spent the entire Halloween night at the Government Palace, and left the following morning, EFE recalls. Below 👇 is the list of Peruvian presidents after 2016, the duration of their troubled terms, and the reason behind their departure from power:

• Pedro Pablo Kuczynski (2016-2018): 1 year and 236 days. Resigned following the political crisis that arose after the controversial pardon granted to the late Alberto Fujimori.
  

• Martín Vizcarra (2018-2020): 2 years and 231 days. Was impeached by Congress after signs of corruption during his tenure as governor of Moquegua were revealed.
  

• Manuel Merino (2020-2020): 5 days. Resigned due to public pressure unleashed by the controversial death—allegedly at the hands of the police—of two young protesters during the demonstrations against his appointment.
  

• Francisco Sagasti (2020-2021): 252 days. The only one in these years who escaped impeachment or did not resign.
  

• Pedro Castillo (2021-2022): 1 year and 132 days. Lived under permanent congressional siege on suspicion of corruption. Attempted a clumsy coup against the legislature and the Judiciary. Was impeached, and subsequently tried and convicted.
  

• Dina Boluarte (2022-2025): 2 years and 306 days. Plunged into chronic unpopularity, she was impeached amid constant ethical and corruption scandals.
  

• José Jerí (2025-2026): 131 days.
  

Venezuela

The Treasury Department's OFAC amended this Wednesday a license that specifically authorizes transactions related to oil or gas sector operations in Venezuela for certain entities. The only change I notice is the addition of Paris-based Établissements Maurel & Prom SA to the initial list of five companies that, from the start, received the U.S. government's blessing to negotiate and sign contracts for new investments in the Venezuelan oil sector. Although there is now a general authorization, businesses not listed in General License No. 50A must obtain specific authorization from OFAC.

Definitely, new times are underway in Caracas 👇.

Argentina

"Milei rhetorically seeks to distance himself from China. But it was under Milei´s anti-communist libertarian government that China gained greater ground in the Argentine market."

The labor reform battle

Meanwhile, everything points to a worsening of the conflict over the labor reform project promoted by the far-right Milei, which some groups see as detrimental to workers' rights. The main labor federations have called for a general strike this Thursday, which implies a broad shutdown affecting passenger transport—both land and air, something the government has threatened to punish harshly—and new demonstrations in front of the National Congress, where the ruling party gained significant muscle after the last national legislative elections.

Cuba

I do not believe things are heading in this direction. I do not see Raúl Castro negotiating the end of the political regime built by his brother, the late Fidel Castro. This could make more sense if Washington would settle for a Vietnam-style Cuba economically, but that is very complicated to sell in Florida. For now, these are nothing more than allegations. Although Marc Caputo and Nora Gámez seem to me to be very competent professionals, it is becoming increasingly evident how the press is being instrumentalized to push certain agendas and gauge reactions to certain narratives.

This is all for today's report.