Place the stainless steel inner pot inside the Instant Pot®. Press Saute and set time to 15 Minutes. Add the meat previously seasoned with salt and fry. Once done, remove the meat and set aside.
Press Saute again and set time to 10 Minutes. Add the olive oil. Once hot, add the onion and garlic. Cook, stirring constantly, for 5 minutes or until onion turns translucent. Add the ají panca along with the cumin, cook for about 3 minutes, then press Cancel.
Add the fried meat, dried potato, peanuts, water, cinnamon, cloves, and salt to taste. Close and lock the Instant Pot® lid. Make sure the steam release handle is turned to Sealing. Press Meat/Stew and set time to 20 Minutes.
Finally, serve the carapulcra. Optionally, cassava may be added to it.