Unrest in Peru could cause an imbalance in the global copper market

How the political crisis developed in Peru

On December 7, 2022, President Castillo dissolved the congress, which was supposed to consider his impeachment for the third time (the first two in December 2021 and March 2022), and also declared a nationwide state of emergency. In addition, the president announced elections to a congress with the powers of a constituent assembly to draft a new constitution. The deputies held the scheduled meeting and supported the impeachment. Castillo was removed from power and arrested for attempting a coup. On December 14, a state of emergency, now in connection with the protests of supporters of the ex-president, was announced by the Ministry of Defense of Peru. On December 16, Castillo was sentenced to 18 months of pre-trial detention after being declared “rebellious”. The new president, Dina Boluarte (vice president before impeachment), persuaded parliament to organize snap elections for the head of state in 2024 instead of 2026.