Hernando de Soto Appointed Prime Minister of Peru Amid Political Crisis

Economist Hernando de Soto has been appointed to preside over the Council of Ministers of Peru, according to a statement released by the transitional government of President José María Balcázar. The appointment comes as Peru navigates a period of significant political instability.

Appointment and Initial Actions

The Presidency of the Republic announced the selection of de Soto on Sunday, February 23, 2026. He held an initial meeting with President Balcázar to define the first actions of the transitional management according to Infobae. A key priority will be ensuring “clean and transparent elections.”

Political Context

Balcázar was elected as interim president by the Peruvian Congress on Wednesday, February 22, 2026, following the dismissal of former interim president José Jerí due to a corruption scandal as reported by El Comercio. Balcázar will govern for five months, until July 28, 2026, when he will hand over power to the winner of the general elections scheduled for April 12, 2026, with a potential second round in June.

Hernando de Soto’s Background

Hernando de Soto, 84, brings extensive political and economic experience to the role. He served as part of the economic team during the presidency of Alberto Fujimori (1990-2000) and also provided advice to Fujimori’s daughter, Keiko Fujimori. His advisory experience also extends internationally, having advised Muammar Gaddafi of Libya and Hosni Mubarak of Egypt as detailed by La Vanguardia.

De Soto ran for president in 2021 representing the Avanza País party, but did not advance to the second electoral round.

Upcoming Swearing-In

De Soto will be sworn in on Tuesday, February 24, 2026, along with the new cabinet ministers. The names of his collaborators are expected to be announced on the same day according to RPP.