Latin American Pulse for Wednesday , February 18 , 2026

riotimesonline.com · Feb 18, 2026 · Collected from GDELT

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Peru Ousts Its Fourth President Since 2018 in “Chifa-gate” Scandal; Trump Refuses to Rule Out Military Action Against Cuba; Argentina Counts Down to Thursday’s Strike-and-Vote Collision Executive Summary The Big Picture: Peru’s Congress voted 75–24 on Tuesday to remove interim President José Jerí from office, extending a decade of political dysfunction that has now consumed eight heads of state since 2016. The “Chifa-gate” scandal—in which Jerí was filmed entering a Lima restaurant in a hoodie for undisclosed meetings with Chinese businessman Zhihua Yang, who holds active government contracts—triggered seven censure motions and an attorney general’s investigation for influence peddling. Lawmakers will elect a new interim president from among their members today (Wednesday) at approximately 6 PM local time. The successor will govern until July 28, when the winner of the April 12 presidential election takes office. Rafael López Aliaga, a conservative businessman and former mayor of Lima, leads a crowded field of 34 candidates that also includes Keiko Fujimori. The ouster deepens Peru’s institutional crisis just as the country navigates Chinese investment disputes and U.S. pressure over Beijing’s growing presence in the Andean economy. President Trump on Monday called Cuba a “failed nation” and explicitly refused to rule out military action to topple its government—the most direct threat of U.S. force against Havana since the Kennedy era. Cuba’s fuel crisis has now cascaded into a public health emergency: garbage is piling up across Havana and other cities because collection trucks have no fuel, creating conditions for mosquito-borne disease outbreaks in the tropical climate. The annual Festival del Habano was cancelled due to the “complex economic situation,” and Díaz-Canel chose to host Argentine leftist Juan Grabois to discuss “American imperialism” rather than signal any diplomatic opening toward Washington. Argentina enters the most consequential 48 hours of Milei’s presidency. He departs Buenos Aires tonight for Washington’s inaugural Board of Peace summit, while back home the CGT’s general strike—the first with confirmed full aviation shutdown—will paralyze the economy on the same day the Chamber of Deputies debates labor reform. The government needs approximately 129 votes in the 257-seat chamber. In Venezuela, hunger strikers outside Zona 7 entered their fifth day Tuesday, weakening visibly, as the National Assembly prepares to resume the critical amnesty vote today. Regional Mood Markets reopen into a minefield. B3 returns this afternoon (Ash Wednesday half-session from 1 PM BRT); BYMA reopens this morning after four days dark. The FOMC minutes release today is the first actionable Fed signal since the January CPI beat. Peru’s congressional vote for a new interim president tonight adds another live event. Thursday delivers simultaneous binary events in Argentina (strike + vote) and Venezuela (amnesty). El Salvador’s record 6.6-tonne cocaine seizure and $110 million Shakira concert windfall bookend a weekend that showcased Bukele’s security and soft-power model. Risk Snapshot Country Key Driver Risk Level Peru Congress removes President Jerí 75–24 over “Chifa-gate”; successor vote tonight; 4th ouster since 2018; April 12 election looms CRITICAL Cuba Trump calls Cuba “failed nation,” refuses to rule out military action; garbage/health crisis deepens; Díaz-Canel hosts Grabois CRITICAL Argentina Milei departs for Board of Peace tonight; CGT strike tomorrow with full aviation shutdown; Deputies labor reform vote tomorrow; BYMA reopens today HIGH Venezuela Hunger strike Day 5; amnesty debate resumes today (Wed); 600+ political prisoners; credibility of transition at stake HIGH El Salvador Record 6.6-tonne cocaine seizure ($165M); Shakira residency generates $110M economic impact; IDB commits $1.3B for 2026 WATCH Mexico 40-hr workweek in Deputies committees; plenary vote ~Feb 24–25; USMCA review begins July 1 WATCH Peru Congress Removes Fourth President in Seven Years as “Chifa-gate” Collapses Jerí’s 130-Day Presidency What Happened —The Vote: Peru’s Congress voted 75–24 with three abstentions on Tuesday to censure José Jerí as president of Congress, automatically stripping him of the national presidency under Peru’s constitutional succession rules. Jerí had held office for just 130 days after assuming the presidency on October 10 when predecessor Dina Boluarte was removed on “moral incapacity” grounds. His party, Somos Perú, attempted to delay the vote until March but the parliamentary majority rejected the maneuver and approved a resolution to proceed directly without debate. Jerí said he will respect the outcome and returns to his seat as a legislator. —“Chifa-gate”: The scandal centers on leaked video showing Jerí entering a Chinese restaurant (“chifa”) in Lima on December 26 wearing a hoodie to disguise his identity for an off-the-books meeting with businessman Zhihua Yang, who holds active government energy concessions. A second meeting on January 6 was also undisclosed. Another Chinese businessman Jerí met is under investigation for illegal logging in the Amazon. Prosecutors opened a preliminary investigation into corruption and influence peddling. Jerí claimed the meetings were to organize a “Peruvian-Chinese friendship day” and apologized for entering “hooded” but denied any wrongdoing. Separate allegations emerged regarding the hiring of nine young women in public institutions following meetings with Jerí at the presidential palace. —What Happens Next: Acting congressional president Fernando Rospigliosi said parties have until 6 PM today (Wednesday) to register candidates; the vote for a new interim president follows tonight. The successor will be Peru’s eighth head of state in a decade and will serve as caretaker until the April 12 general election. If no presidential candidate wins 50% in April, a runoff follows in June. López Aliaga leads a field of 34 registered candidates; Keiko Fujimori runs second in most polls. —Markets: Despite the revolving door of presidents, Peru’s economy has remained relatively stable with a public debt-to-GDP ratio of 32% in 2024—one of Latin America’s lowest. Mining and infrastructure investment has continued. The Lima Stock Exchange was open normally this week. Why It Matters Peru has now used the “moral incapacity” removal mechanism so frequently that it has effectively made the presidency disposable. Since Pedro Castillo’s ouster in 2022, the country has cycled through Boluarte and Jerí without a single leader completing even a full year in stable governance. This pattern creates a structural vacuum: no president can accumulate enough political capital to implement reforms or negotiate with Congress as an equal. The China angle is particularly sensitive—the Trump administration has explicitly warned Peru about losing sovereignty to Beijing’s economic influence, and the fact that Jerí fell over meetings with Chinese businessmen feeds directly into Washington’s narrative. For investors, the economy’s resilience despite political chaos is remarkable but not guaranteed: mineral-rich Peru needs policy continuity to attract long-term infrastructure investment, and the April election offers no obvious path to stability with 34 candidates fragmenting the electorate. Key Watch Congressional vote for interim successor tonight (~6 PM Lima time). Prosecutor’s office next steps on Jerí. Whether the new interim president attempts any policy moves before April. López Aliaga and Fujimori polling trajectories. Market reaction to eighth presidential transition in a decade. U.S. and China responses. RISK: CRITICAL Cuba Trump Threatens Military Action as Fuel Crisis Becomes a Health Emergency What Happened —Trump’s Threat: Speaking aboard Air Force One on Monday, President Trump called Cuba a “failed nation” and refused to rule out military action aimed at toppling its government—the most explicit threat of U.S. force against Havana since the Kennedy era. He said Cuba “should absolutely make a deal” and described the situation as “a humanitarian threat.” Cuba’s deputy foreign minister responded that U.S. officials “don’t listen to their President” when claiming Washington bears no responsibility for the island’s difficulties. —Garbage and Health Crisis: The fuel shortage has cascaded into a waste collection emergency. Collection trucks across Havana and other cities are sitting idle with empty tanks, causing refuse to pile up on streets. In tropical conditions, uncollected garbage creates breeding grounds for mosquito-borne diseases including dengue and Zika. This adds a public health dimension to a crisis that was already humanitarian—hospitals are operating on reduced staff and intermittent power, and medicine shortages are worsening. —Festival del Habano Cancelled: Cuba’s annual cigar festival—one of the island’s premier international events and a significant source of hard currency—was cancelled due to what organizers called “the complex economic situation” caused by the U.S. blockade. The cancellation signals that the crisis is now visibly dismantling Cuba’s revenue-generating cultural infrastructure. —Díaz-Canel Hosts Grabois: Cuban President Díaz-Canel received Argentine leftist leader Juan Grabois at the Palace of the Revolution on Tuesday. They discussed “American imperialism” and the Venezuela intervention. The meeting signals Havana is doubling down on ideological solidarity networks rather than pivoting toward pragmatic negotiation with Washington—even as the crisis deepens. Why It Matters Trump’s comments cross a rhetorical threshold. Previous statements pressured Cuba economically; Monday’s remarks introduced the possibility of military action explicitly. Whether this is strategic signaling or genuine intent, the effect on Havana’s calculus is real: the regime must now weigh whether holding out leads to economic collapse or something worse. The garbage crisis is particu