The Special Procedures Committee of the Peruvian Senate must define its recommendation on the continuity of Julio Velarde Flores as president of the Central Bank of Peru by September 9. ^[1] The Peruvian Executive Branch ratified Julio Velarde Flores for an additional five-year term as president of the BCR via Supreme Resolution 258-2026-PCM, published in the official newspaper El Peruano on August 21, 2026. ^[2] The Keiko Fujimori government renewed Julio Velarde's designation for an additional five years, marking his fourth decade in the role of president of the Central Bank of Peru. ^[3] The Special Procedures Committee, chaired by Senator Hugo Ccahuana Aymachoque, agreed to draft a report recommending whether to ratify Velarde. ^[4] Hugo Ccahuana Aymachoque, president of the 'Juntos por el Perú' party, leads the Special Procedures Commission of the Senate which is handling the ratification of Velarde. ^[5] The commission unanimously approved the election of three new members of the BCR board of directors, a process scheduled to begin with a call for proposals on September 3, 2026. ^[6] Ratification of Julio Velarde by the Senate Plenary will require 31 votes. ^[7] The commission began a process to select three remaining members of the BCR board, with the final report due by October 7, 2026. ^[8]