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    Gustavo Petro was confirmed as the candidate on Sunday. Petro has been attending the elections for several weeks with favoritism.

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

    The former mayor of Bogota as well as former senator of the Republic took the victory in the Historic Pact alliance and officially was elected to the presidency for the Republic, a post he has aspired to for the third year.

    He is the most representative of the Colombian left and a strong candidate for president, despite his controversial ideas and plans on a variety of areas, including the economic.

    http://www.camara.gov.co/gustavo-petro-urrego stated his intent to alter the pension system via the creation of a public administrator for pension funds. Petro is also planning to develop an investment system which is “mixed-and-complementary” and private fund.

    The candidate stated that Colombia does not have a retirement system, but instead an institution that generates bank profits. Many believe that this will prevent him from becoming President. Petro recently said that while the pension system would not be eliminated however, he will seek to make changes in pensions to guarantee a minimum retirement age for Colombians. Petro also said that it wasn’t necessary to increase the retirement age.

    (Who comprise the list of potential candidates to be part of the Historic Pact).

    Another controversial issue is the fact that he’s repeatedly said that he would stop extraction of oil when his appointment. This has created uncertainty among investors, and the market generally.

    http://www.secretariasenado.gov.co/senadores/53-senadores-2018-2022/1512-gustavo-francisco-petro-urrego estimate that Petro’s plan to stop exploration for oil in Colombia could result in a bill around $4.3 billion.

    The plan also proposes the creation of an anti-oil front throughout the region and around the globe which will assist in moving the economy away from fossil energy sources. petro gustavo would like to invite Gabriel Boric, the new Chilean president, as well as Luiz Inacio Lula Da Silva Luiz Inacio Da Silva, Luiz Inacio Lula Da Silva, the Brazilian vice president.

    Petro said he had spoken with Pedro Sanchez, the Prime Minister of Spain about his proposal.

    His position on health concerns has been controversial as well because he insists on ending EPS and replacing it with a proactive care model that “guarantees the rights of the people and not the profit of bankers”.

    He also questioned the independence of Banco de la Republica, and declared that he would also change the institution in the event of becoming President.

    Petro asserts that the Bank’s Board of Directors is part of a political group known as the Democratic Center. Therefore, Petro says, “What we want” is a true independent Bank of the Republic (…). The candidate made that in the middle of an debate.

    (Petro leads voting intention in the presidential election According to Invamer).

    gustavo petro to issue cash to fund the government’s spending was a source of controversy.

    Petro’s proposals include an economy that is not dependent on mining and extraction of hydrocarbons and a greater contribution from agriculture.

    It is also noted that he is likely to introduce a tax reform plan which would end exemptions as well as transform the concept and definition of minimum wage into a real income-based wage.