(Bloomberg) -- Peru’s president Dina Boluarte called for elections to be brought forward two years to 2024 and also imposed a state of emergency in several regions to try to pacify a nation in chaos since her predecessor was impeached last week.

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“In the next few days I’ll send congress a proposal for early elections,” Boluarte said in an overnight address to the nation. “We see an escalation of political confrontation that’s not healthy for the country.”

The demonstrations have gathered momentum since Pedro Castillo was ousted from the presidency on Dec. 7. His supporters are calling for his release from the police base where he is being detained, the dissolution of congress, early elections and a rewrite of the constitution.

It remains to be seen whether Boluarte’s partial accession to one of their demands will help restore calm.

Boluarte, who was elected as Castillo’s vice president and whose term goes to 2026, declared states of emergency in some Castillo strongholds where protests are most intense.

In recent days, protesters have blocked key highways that connect Lima and the country’s main port with agricultural heartlands, and clashed with police in riot gear in downtown Lima.

The developments over the last week underscore Peru’s long-running political crisis that has seen a unicameral congress confront sitting presidents for the better part of a decade, with the last person to fully finish his term being Ollanta Humala in 2016. Boluarte is the nation’s 6th head of state since the start of 2018.

Market Reaction

Peru’s dollar-denominated bonds rallied on Monday in line with emerging-market peers. Meantime, the nation’s benchmark stock index fell 1.6% dragged down by lower copper prices. The sol was little changed.