Peru is characterised by a pronounced and somewhat unusual dichotomy between deeply dysfunctional politics and generally strong economic performance. However, recently the frequency and seriousness of Peru’s political crises have been getting worse. Peru’s political problems are rooted in the deliberate exploitation of weak institutions by politicians for their own personal gain. If the failures of national elites to respond to national problems are allowed to continue the result could be deep and pervasive crises. The upcoming general election on 11 April 2021 provides an opportunity for Peruvians and the political class to change course, but the odds are stacked heavily against reform. This report explains the nature of Peru’s political problems, outlines the reasons why reform is challenging, and sets out the changes to the political and judicial systems that would be required to break with the past.