Gustavo Petro, Winner of the Historic Pact: Lights and Shadows

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19 May 2022

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Gustavo Petro , Candidate for the Presidency, has confirmed the favoritism that has been apparent in the polls in the last few weeks.

(Positions in the Historic Pact for Pensions & Inflation)

The former mayor of Bogota and former senator of the Republic was the winner of the Historic Pact alliance and officially became a candidate of the presidency of the Republic, a post he has aspired to since the beginning of the third year.

The large majority of votes in the consultation leads to him being the most representative persona of the Colombian left and a solid candidate for president despite his controversial ideas and views on a variety of fronts, including the economic one.

Petro has announced that he will alter the pension scheme through the creation of a public manager of pension funds. This would allow for an "mixed system" of private and public funds.

He stated that Colombia has no pension system but rather a system of bank profit. This is what many believe would make him the most likely choice to become the president. said that he would not eliminate the system, but he would call for reforms to the pension system in order to provide the minimum amount of income to Colombians. said "no need" for an increase in the pension age.

(Who comprise the list of possible candidates). is the fact that he's repeatedly stated that he will end oil extraction before when he becomes president. This is a matter that has caused uncertainty for investors.

The experts estimate that Petro's proposal to end oil exploration would cost Colombia around $4.3 billion.

Added to this proposal is to create an anti-oil movement in the region and across the globe that will move away from fossil fuels, to which I would like to invite the new president of Chile, Gabriel Boric, and the Brazilian Luiz Inacio Lula da Silva, and other people.

Petro said he'd talked to Pedro Sanchez, Spain's Prime Minister, in recent times about his plan.

His position on health is also controversial. has called for the ending of EPS and has replaced it with a model of preventive medical care that "guarantees the rights of people not the profits margins of bankers."

He also has questioned the independence of Banco de la Republica.

Petro claimed that the Bank Board of Directors of the Bank belonged to the Democratic Center, a political party. "What we would like, however, is an independent Bank of the Republic (...) and it is to us key to ensure that the Board is a part of the community," the candidate said during the debate.

Invamer asserts that Petro is the president's choice for in voting intentions.

Also controversial was his idea of releasing money to fund the government's expenditures. includes an economic model that doesn't rely on fossil fuels. The proposal also includes hydrocarbon extraction. However, Petro places more emphasis on agriculture.

He would also make an overhaul to the tax code that removes exemptions and replaces the idea of minimum wage to real wages that are based on income or capital.

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