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This Sunday Gustavo Petro, the candidate for Gustavo Petro, confirmed the favoritism polls have been showing for a number of weeks.

(Positions for candidates to be included in the Historic Pact of Pensions and Inclusiveness).

Former Senator of the Republic and ex-mayor in Bogota was able to secure the victory in the Historic Pact coalition. Officially the former mayor is now running for the presidency, which he hopes to achieve three times.

http://www.secretariasenado.gov.co/senadores/53-senadores-2018-2022/1512-gustavo-francisco-petro-urrego He is the most representative of the Colombian left and a strong candidate for president despite his controversial opinions and proposals on many aspects, including economic.

Petro has said that he will alter the pension scheme through the creation of an official manager for pension funds. This will allow for the creation of a “mixed system” of private and public funds.

The candidate claimed that Colombia doesn’t have a retirement system, instead it’s the system is designed to make bank profits. http://www.elheraldo.co/gustavo-petro Many believe that this could prevent him from becoming President. But, Petro recently said that he would not eliminate them however, he would like to reform the pension system to achieve a minimum pension for Colombians. Petro said that there is “no is the need” for an increase in the age of retirement.

(Who make up the Historic Pact’s list of potential candidates).

Another topic of contention is his repeated vows to end oil extraction once the time comes for him to become President. This has created uncertainty for investors as well as the general market.

Gustavo Petro Experts estimate that Petro’s proposal to end oil exploration in Colombia will result in a cost of approximately $4.3 billion.

Additionally, this proposal would establish an anti-oil front throughout the world and in the region that would shift the focus of our economy away from fossil fuels. For that I’d like to invite Gabriel Boric the Chilean president and LuizInacio Lula Silva the Brazilian president.

petro gustavo Petro said he’s had a conversation with Pedro Sanchez, the Prime Minster of Spain, about his idea.

gustavo petro His position regarding health issues has been also controversial. http://www.camara.gov.co/gustavo-petro-urrego He has been insistent about ending EPS and replacing it with a preventive model that “guarantees both the rights of people and not the financial gains of banksters”.

He has also question the legitimacy of Banco de la Republica.

Petro claimed that the Bank Board of Directors of the Bank was part of the Democratic Center, a political party. “What we seek is a truly independent Bank of the Republic (…) and it seems to us key to ensure that the Board has the presence of the community,” the candidate said in the middle of the debate.

Invamer informs us that Petro is the top candidate in terms of voting intentions for the presidential elections.

The idea was controversial because he suggested issuing cash to fund government spending.

Petro’s suggestions are for an economy that is not dependent on fossil fuels, the extraction of hydrocarbons as well as mining. Agriculture plays a larger part to play.

It is also stated that he would make an overhaul of the tax system that would eliminate exemptions as well as the replacement of the idea of minimum wage by a real wage based on income and capital.