He entered politics when he founded the País Posible party, participating for the first time in the 1995 general election. In 2000, he managed to become in the largest opposition leader to the government of Alberto Fujimori, before whom in the midst of a controversial and bumpy process, lost the election for a second time. After the transition stage and the return of democracy in Peru, he participated for the third time in the 2001 elections against Lourdes Flores of National Unity and Alan García of the Peruvian Aprista Party; he competed with the latter in the second round, winning with 53.1% of the popular vote.