Peru’s messy election, Brazil’s “Terrabras”

Peru's election results are still inconclusive five days after the vote. The scenario in which a far-left candidate (Roberto Sánchez) makes it to the presidential run-off vote, to be held in June, remains a possibility. But with none of the front runners’ parties likely to hold a majority in congress, that should act as a constraint on any more radical proposals. The flipside is that a fractured legislature will complicate efforts to address the key challenges that Peru faces, such as fiscal consolidation and structural reforms to lift Peru’s productive capacity.