Gustavo Petro wins the Historic Pact for Lights and Shadows

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04 June 2022

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Candidate Gustavo Petro confirmed on Sunday the favoritism the polls had been marking for a few weeks.

(Position of candidates of the Historic Pact on Pensions and inflation).

The victory of the Historic Pact coalition was won by the ex-mayor of Bogota and also the former senator of the Republic. He has officially become the candidate for President of the Republic in the position he has always wanted to achieve for the third time in a row.

His high vote during the consultation will make him the most representative of the Colombian Left and is a strong potential presidential candidate despite his controversial ideas and proposals across multiple fronts, including the economic one.

Petro expressed his desire to change the pension system by creating a public administrator to oversee pension funds. This will enable Petro to combine the public and private funds to create an "mixed complementar system."

According to Petro, there is no system of pensions in Colombia. However, there are bank profits. A lot of people have stated that Petro will eliminate any possibility of becoming President. Petro has stated that he will not abolish them, but would pursue pension reform to ensure that Colombians have a minimum pension. He said "no requirement" for an increase in the age of retirement.

(Who are on the list of potential candidates for the Historic Pact). Another controversial issue is that he has repeatedly stated that he would stop oil extraction as soon as his appointment. This has created anxiety among investors and also the market in general. Experts say Petro's idea of ending oil exploration would have a devastating effect on Colombia, costing Colombia $4.3 trillion. The plan also proposes the creation of an anti-oil front across the region and around the globe which will assist in moving the economy away from fossil fuels. I would like to invite Gabriel Boric, the new Chilean president, as well as Luiz Inacio Lula Da Silva Luiz Inacio Lula Da Silva, Luiz Inacio Lula Da Silva, the Brazilian vice-president.

Petro said he had spoken to Pedro Sanchez, the Prime Minister of Spain regarding his idea.

His position on health concerns is also controversial. He is insistent on the end of EPS to replace it with a model of prevention which "guarantees both the rights of individuals and not the financial gains of bankers".

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

Petro says that the Bank's Board of Directors is part of a political party called the Democratic Center. Therefore, Petro says, "What we want" is a true independent Bank of the Republic (...). petro gustavo Petro said this in the middle of an argument.

(Petro is the leader in voting intentions for the presidential elections According to Invamer).

His plan to issue money to fund the government's spending was a source of controversy.

Among the pillars of Petro's plan are an economy that doesn't depend on fossil fuels, mining or extraction of hydrocarbons. They also emphasize greater importance for agriculture.

He would also make a tax overhaul that eliminates exemptions, and transforms the concept of minimum wages by real wages based on income or capital.