Keiko Fujimori conceded defeat Friday in one of the closest presidential elections ever in Peru, which kept the country in suspense for nearly a week.
She said she is accepting the results "in a democratic spirit" and will head up what she says will be a respectful opposition.
Until Friday, she had refused to give up after barely losing a runoff to conservative economist and former World Bank official Pedro Kuczynski, 50.1 percent to 49.9 percent.
Kuczynski has urged Peruvians to work together for the country's future.
Fujimori is the daughter of former President Alberto Fujimori, who is serving a 25-year prison sentence for human rights abuses and corruption during his rule from 1990 to 2000.
Keiko Fujimori had tried to distance herself from her infamous father. But Kuczynski and others warned she would reintroduce authoritarian rule in Peru if elected.