Latin America

Petro’s economic agenda is ambitious. Perhaps too ambitious

Big tax and spending hikes, a pension reform, and a ban on oil exploration are the highlights of campaign promises proposed by Gustavo Petro, Colombia's presidential frontrunner

Supporters of left-wing presidential candidate Gustavo Petro, during a rally in Soacha. Photo: Mauricio Dueñas Castañeda/EFE via Folhapress
Supporters of left-wing presidential candidate Gustavo Petro, during a rally in Soacha. Photo: Mauricio Dueñas Castañeda/EFE via Folhapress

Colombia is just one week away from a presidential election that could significantly reshape the country. Gustavo Petro has added to his lead in recent polls, increasing his chances of becoming the first left-wing president in the country’s history.

Such an ideological shift could mean big economic changes, therefore it is worth taking a look at Mr. Petro’s reform proposals and how they could affect Colombia’s economic landscape.

Gustavo Petro’s campaign platform could perhaps be best compared to that of the newly-elected left-wing government in Chile, looking to significantly increase the role of the state through tax, spending, and...

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