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Emerging Market Elections 2026
Table of Contents
Published: 2026-01-01 08:19:00
Key elections in Peru, Colombia, Brazil, Hungary, and Thailand in 2026 could reshape the political landscape of emerging economies and influence international relations.
- Elections are scheduled in Peru on April 12, wiht Rafael Lopez Aliaga and Keiko Fujimori currently leading in polls.
- Colombia will hold parliamentary elections on March 8 and presidential elections on May 31, with Ivan Cespada and Sergio Fajardo as frontrunners.
- Brazil’s presidential election is on October 4, with Lula seeking reelection and the right-wing challenger still unclear.
- Hungary faces a challenge to Viktor Orbán’s leadership in April 2026, with Peter Magyar and his Tisza party currently ahead in polls.
- Thailand is preparing for parliamentary elections in the first quarter of 2026, with a pledge for constitutional reform and dissolution of parliament.
- A potential shift towards more conservative governments in Latin America could strengthen ties with the United States.
Political Shifts Across Emerging Markets
2026 is shaping up to be a crucial year for emerging markets (EM), with elections slated for several key nations, according to an analysis of the economic and political scenarios of emerging countries. The trend toward tougher governments in Latin America, exemplified by recent victories like that of Milei and the likely outcome of Chile’s presidential runoff in December, could strengthen political ties between the region and the United States.
latin American Elections
Peru is set to hold elections on April 12, following a period of political instability and frequent changes in leadership.Despite the turmoil, the country’s macroeconomic stability has remained intact. The latest polls indicate that Rafael Lopez Aliaga, the former mayor of Lima, and Keiko Fujimori are the frontrunners, both familiar faces from the 2021 elections.Fujimori narrowly lost the 2021 election to Pedro Castillo by a margin of just 0.26 percentage points.
Colombia will hold parliamentary elections on March 8 and presidential elections on May 31. With current President Gustavo Petro ineligible to run for reelection, the presidential race is expected to be highly competitive. Ivan Cespada, representing Petro’s party, Pacto Historico (PH), is currently tied in polls with centrist candidate Sergio Fajardo, though a majority of voters remain undecided. Petro’s management is currently pursuing an expansionary fiscal policy, and the country saw GDP growth of 3.6% year-on-year in the third quarter, the highest rate since 2022.
Brazil’s presidential election is scheduled for October 4. President Luiz Inácio Lula da Silva (Lula) intends to seek reelection, but former President Jair Bolsonaro has been disqualified from running and is currently imprisoned. The identity of Lula’s right-wing challenger remains unclear, though potential candidates include members of the Bolsonaro family and the current governor of São Paulo, Tarcisio de Freitas. Lula currently leads in the polls.
