Peru's president, Mr. Alberto Fujimori, dropped a political bombshell last weekend when he announced that he would call new elections as soon as possible after his security chief, Mr. Vladimiro Montesinos, was shown bribing opposition politicians. The move is welcome: Mr. Fujimori's re-election to a third term was tainted by charges that the bid itself was unconstitutional and the election was unfair. Mr. Montesinos was reputed to exercise immense power behind the scenes, and was thought to be the chief force behind the alleged perversion of the campaign. Peru needs transparency and the rule of law. Mr. Fujimori's decisions to step down -- he will not run in the new election -- and to cashier Mr. Montesinos are a good start.

Mr. Fujimori is Latin America's longest-serving leader -- and perhaps the most controversial. When he first ran for office in 1990, he was a virtually unknown agriculture professor and engineer. His background endeared him to Peru's peasants, who rallied behind him and his no-nonsense approach to government. They stayed behind him as he declared a "self-coup" in 1992 and ruled as virtual dictator for eight months. He used that power to break the Sendero Luminoso guerrilla organization, ram legislation through an obstructionist legislature and force reform on his country. He turned the economy around and won powerful allies in Washington by cutting the country's coca production in half.

Yet the Fujimori magic wore out. The economy stalled and opposition mounted. Opposition leader Alejandro Toledo posted a serious threat to the president's hopes for a third term. Mr. Fujimori was forced to hold a runoff in elections held earlier this spring, even though international observers deemed the vote flawed and unfair. When Mr. Toledo refused to participate in the second round, Mr. Fujimori was re-elected. His country faced growing international isolation, however.