Julio Velarde will remain in charge of the BCR: Keiko Fujimori announces his continuity for five more years

Julio Velarde will continue to lead the Central Reserve Bank of Peru (BCRP) for five more years, following the announcement made after a meeting with president-elect Keiko Fujimori. During a brief press conference, Fujimori confirmed that she personally went to the institution to express her intention for the economist to remain in the position, amidst a context marked by expectations regarding the national economy, inflation, and the measures that the next government will have to adopt in the face of the possible impact of the El Niño phenomenon.

The leader of Fuerza Popular highlighted that she had a private presentation on macroeconomic figures and the outlook for the coming months, following the proclamation and the delivery of virtual credentials. In that context, she maintained that the country is going through a stage in which it is key to preserve monetary stability and the control of inflation, two variables that have been historically associated with Velarde’s management. Furthermore, she remarked that, within the new bicameral system, the Presidency of the Republic will propose the members of the BCR board of directors, including the person who assumes the leadership of the entity.

Keiko Fujimori confirms the continuity of Julio Velarde with a message on social media

The head of Peru’s Central Bank, Julio Velarde, looks at Peru’s President-elect Keiko Fujimori as he speaks during a press conference in Lima, Peru, July 6, 2026.

Minutes after the announcement made at the headquarters of the Central Reserve Bank of Peru (BCRP), president-elect Keiko Fujimori confirmed the continuity of Julio Velarde through her official account on X (formerly Twitter), where she highlighted that the economist accepted to remain at the head of the institution for a new five-year term.

“Today I held a meeting with the president of the Central Reserve Bank of Peru, Julio Velarde. In that meeting, I extended the invitation for him to continue at the head of the institution for a new five-year term. I am pleased to report that he has accepted,” wrote the president-elect.

In the same post, Fujimori described the decision as “great news for Peru” and thanked the economist for his commitment to the country. Likewise, she noted that his continued presence will contribute to strengthening “an environment of trust and stability to boost its development.”

The message was released shortly after the press conference in which both made the decision official, putting an end to speculation about the future of the BCRP presidency and confirming that Velarde will begin a fifth consecutive term at the head of the central bank.

Julio Velarde agrees to continue leading the BCR after meeting with Keiko Fujimori. Peru’s President-elect Keiko Fujimori and the head of Peru’s Central Bank, Julio Velarde, shake hands as they attend a press conference in Lima, Peru, July 6, 2026. REUTERS/Angela Ponce

The announcement was made during a brief press conference held after the meeting between both of them. Keiko Fujimori explained that, following the official proclamation of the election results and the delivery of credentials, she decided to go personally to the BCRP to talk with Julio Velarde about the country’s economic situation and the outlook for the coming months.

As detailed, during the meeting she received a presentation on the main macroeconomic figures and the economic outlook for Peru. “My smile is due to this very optimistic presentation that Mr. Velarde has given us,” noted the president-elect, although she specified that there is also concern regarding the possible effects of the El Niño phenomenon, in the face of which it will be necessary to adopt preventive measures.

In that context, he highlighted the central bank’s performance in controlling inflation and preserving monetary stability, and attributed those results to the management led by Velarde. “The figures for inflation management and monetary stability are very successful. And that is due to the work of a great man who is sitting here next to me. That is why I wanted to come and ask him to accompany us for five more years,” he stated.

The response from the president of the Central Reserve Bank arrived immediately. After personally congratulating Keiko Fujimori on her election, he expressed his gratitude that the president-elect came to the institution to present the proposal to him.

“I am honored by the request you have made of me. And if under other circumstances I might perhaps not have accepted, I do accept with the greatest pleasure and I intend to dedicate myself as much as possible to all the complexity that it entails today,” he expressed to the media.

The statements surprised even Fujimori herself, who responded with a smile that she did not expect such a quick decision. “I am very happy with the clarity, the firmness, and the way in which you have made this decision. It is great news for Peru,” she stated.

Velarde will continue for a fifth consecutive term at the head of the Central BankRoberto Sánchez is in favor of keeping Julio Velarde at the BCR, states Pedro Francke. (Photo: Composition – Infobae)

With this decision, Julio Velarde will begin a fifth consecutive term as president of the BCRP. The economist was first appointed in 2006, during the second administration of Alan García, and was subsequently ratified by administrations of different political orientations, remaining at the head of the entity for almost 20 years.

His continuity had been a subject of debate during the electoral campaign. The then-candidate Roberto Sánchez, from Juntos por el Perú, had initially questioned Velarde’s tenure and maintained that, if he reached the government, he would dispense with the head of the issuing bank due to disagreements over his management.