Gustavo Petro Winner of the Historic Pact Lights and Shadows

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Gustavo Petro was confirmed as the Candidate on Sunday. He has been going through the elections for several weeks with favoritism.

(Positions in the Historic Pact for Pensions & Inflation)

By far, the former mayor of Bogota and former senator of the Republic was able to secure the victory of the Historic Pact coalition and officially is now a candidate for the presidency of the Republic which is a post that he hopes to attain for the third time.

His high vote at the consultation is the most representative of the Colombian Left and is a strong candidate for the presidency, despite his controversial ideas and proposals on multiple fronts, including the economic one.

Petro has stated that he plans to make a change to the pension system through the creation of a public administrator for pension funds. He also intends to create an arrangement that is "mixed-and-complementary" and private fund.

According to Petro, there is no pension system in Colombia. But there are bank profits. So many have claimed that Petro would eliminate any chance of being elected president. Petro recently stated that he will not abolish the system but would push for reforms to pensions in order to provide a minimum income for Colombians. Petro also claimed that there was no need to raise the retirement age. (Who constitutes the Historic Pact candidate list).

Another topic of contention is his repeated vows to stop oil extraction when his presidency begins. petro gustavo This has led to uncertainty for investors and the general market. Experts believe that Petro's plan of putting an end to oil exploration could have a devastating effect on Colombia, costing Colombia $4.3 trillion.

This proposal includes the creation an anti-oil front in both the region as well the world that moves the economy away from fossil fuels. I would like to invite Gabriel Boric to Chile and LuizInacio Lula de Silva to join me.

Petro stated that he has had a conversation with Pedro Sanchez, the Prime Minster of Spain regarding his plan.

His attitude on health issues is also controversial, as he has insisted on the end of EPS and replacing it with a preventive health model that "guarantees the rights of individuals and not the profit of bankers". He has also questioned the independence of the Banco de la Republica and declared that he will implement a change when he becomes the President.

According to Petro, "the Board of Directors of the Bank is part of an political party called the Democratic Center" and therefore, "what we want is a truly independent Bank of the Republic (...) it is key that the board of directors is a part of the society," said the candidate during a debate.

According to Invamer, Petro leads the decision to vote for the presidential election.

The idea of releasing money for government spending was also controversial.

Petro's plans include an entirely new economic system that isn't dependent on fossil fuels. It also proposes the extraction of hydrocarbons. However, Petro places more emphasis on agriculture.

gustavo petro It is also mentioned that he will propose a tax reform that would remove exemptions as well as transform the definition and concept of minimum wage to an actual income-based wage.