Peruvian President Dina Boluarte Faces 90% Disapproval Amid Economic Crisis and Corruption Allegations

Peruvian President Dina Boluarte is facing a severe crisis, with a staggering 90% disapproval rating amidst allegations of corruption, economic instability, and widespread unrest. The president's popularity has plummeted, with only 12% of citizens approving of her performance, according to an Ipsos poll.

Boluarte is currently under investigation for alleged corruption, specifically for accepting bribes in the form of luxury Rolex watches. Peruvian Attorney General Juan Carlos Villena has charged the president with 'passive corruption' for receiving improper benefits from public officials. The scandal, known as 'Rolexgate,' erupted in March when a trove of undeclared luxury watches and jewelry was discovered in the president's possession.

Boluarte has claimed that the Rolex watches were loaned to her by a friend, the regional governor of Ayacucho, Wilfredo Oscorima. However, Attorney General Villena has presented a constitutional complaint against the president, accusing her of accepting bribes. The accusation has been presented to Congress, but it does not amount to an indictment because of the president's immunity while in power.

Peru is experiencing chronic political instability, with six presidents in the past eight years. The country is struggling with economic instability, and widespread unrest has led to the deaths of over 50 protesters during a crackdown on demonstrations demanding Boluarte's resignation and fresh elections.

The protests, which began in the south of Peru, have demanded Boluarte's resignation, the dissolution of Congress, and the calling of elections. The demonstrations were sparked by the failed coup during the presidency of Pedro Castillo.

In 2023, prosecutors opened an investigation into Boluarte's role in the deaths of more than 50 protesters during a crackdown on demonstrations. The Public Prosecutor's Office has launched 62 investigations against members of the police and military forces, with 56 cases deemed 'complex' and 11 formalized.

The economic crisis in Peru has been exacerbated by the country's political instability. Peru has had seven presidents in just two full-length presidential terms, resulting in stalled growth and a generalized distrust of democracy. With 72% of citizens believing the economic situation has worsened in the past year, the country is in dire need of stability and effective leadership.

President Boluarte is facing a third impeachment bid and a constitutional accusation from the attorney general's office. Meanwhile, Congress is seeking to rewrite the 1992 constitution, drafted by former President Alberto Fujimori, to transfer powers from the president to Congress.

Despite the political turmoil, Peru is benefiting economically from a new copper super cycle and its bid to become a port hub overlooking the Pacific. The copper super cycle and the upcoming inauguration of eight ports, including the port of Chancay built by Chinese-owned Cosco Shipping Ports Ltd, may prove a blessing for the economy.

In the final analysis, President Boluarte's future remains uncertain. With a 90% disapproval rating, widespread unrest, and ongoing corruption investigations, her ability to lead Peru through this turbulent period is under intense scrutiny.

Key Takeaways

• Peruvian President Dina Boluarte faces 90% disapproval rating amid corruption allegations.
• Boluarte accused of accepting luxury Rolex watches as bribes in "Rolexgate" scandal.
• Peru experiences chronic political instability with 6 presidents in 8 years.
• Economic crisis worsens with 72% of citizens believing situation has deteriorated.
• Boluarte's future uncertain with 3rd impeachment bid and constitutional accusation.