Peruvian presidential candidate Keiko Fujimori has conceded to rival Pedro Pablo Kuczynski in run-off elections.
Ms Fujimori promised in her concession speech on Friday that she would lead a "watchful" opposition.
She said her rival had won the run-off race through the support of "promoters of hate" and that official election results were "confusing."
Ms Fujimori, 40, is the daughter of incarcerated ex-President Alberto Fujimori.
With all ballots counted for the run-off vote, Mr Kuczynski won 50.1% to Ms Fujimori's 49.9%.
Ms Fujimori was initially widely tipped to win, but lost ground in the final stretch of campaigning.
"In a democratic spirit, we accept these results," she said on Friday.
As she spoke, the defeated candidate was surrounded by members of her Popular Force party, who will have a majority in congress from late July.
Mr Kuczynski warned repeatedly throughout the campaign that the corruption and criminality many associated with Alberto Fujimori's authoritarian tenure in office could reappear if his daughter was elected.
Analysts said that corruption scandals in the Popular Force Party may have dented Ms Fujimori's support since April.
Mr Kuczynski on Thursday urged Peruvians to unite for the future of the country.
He is an ex-Wall Street financier who has promised to use his international financial experience to promote economic growth.
The president-elect has the support of prominent figures such as Nobel-Prize-winning novelist Mario Vargas Llosa and left-wing candidate Veronika Mendoza, who came third in the first round of voting.
But he has faced scrutiny over his close relationship to Peru's business elite.