Peru's center-right President Pedro Pablo Kuczynski announced his resignation on Wednesday after vote-buying allegations ensnared him in a fresh scandal on the eve of an impeachment vote, capping months of political turmoil in one of Latin America's most stable economies.

Kuczynski, a 79-year-old former Wall Street banker who once held U.S. citizenship, promised a "constitutional and orderly" transition of power to end what he described as a hostile political climate that had made governing nearly impossible.

But Kuczynski, who is expected to be replaced by Vice President Martin Vizcarra on Friday, denied allegations of wrongdoing and blamed the premature end of his five-year term on the right-wing opposition party that controls Congress.