Gustavo Petro was confirmed as the candidate on Sunday. He has been marking the election for a few weeks with favoritism.

(Positions in the Historic Pact for Pensions & Inflation)

Former Senator of the Republic and former mayor in Bogota has won the victory in the Historic Pact coalition. Officially the former mayor is now a candidate to the Presidency and hopes to achieve for the third time.

The large majority of votes in the consultation leads to him being the most representative persona of the Colombian left and a firm candidate to be president despite his controversial ideas and views on a variety of fronts, including the one on economics.

Petro has said that he will alter the pension scheme by creating the public manager of pension funds. This will allow for an "mixed system" of public and private funds.

According to Petro, there is no system of pensions in Colombia. But, there are bank profits. Many have said that he will end any possibility of becoming President. However, Petro recently said that he will not abolish them but would pursue reforms to pensions to create a minimum retirement age for Colombians. Petro also said that it's not necessary to increase the age of retirement.

(Who make up https://www.portafolio.co/elecciones-2022/gustavo-petro-ganador-del... of potential candidates to be part of the Historic Pact).

Another issue that is controversial about him is that he frequently promises that he will end oil extraction when he assumes his office. This has created confusion among investors as and the market.

Experts believe that Petro's plan of putting an end to oil exploration could be devastating for Colombia which would cost Colombia $4.3 trillion.

In addition to this, the proposal is the idea of establishing an anti-oil movement in the region and around the world that will move the economy away from fossil fuels, to which I would invite the new president of Chile, Gabriel Boric, and the Brazilian Luiz Inacio Lula da Silva, among others.

Petro stated that he spoke with Pedro Sanchez, the Prime Minister of Spain regarding his idea.

His views on health have been controversial as he insists on ending EPS and replacing the model with a preventive model that "guarantees the rights of people, not bankers' profits".

He also raised questions about the legitimacy and independence of the Banco de la Republica.

Petro asserts that the Bank's Board of Directors is part of a political party called the Democratic Center. Therefore, Petro claims, "What we want" is an independent Bank of the Republic (...). https://www.semana.com/semana-tv/vicky-en-semana/articulo/me-preocu... made this during an debate.

https://www.larepublica.co/gustavo-petro reports that Petro is the top candidate in voting intentions for the presidential election.

His idea to issue money to fund government spending was controversial.

The main pillars of Petro's proposals are an economy that does not depend on fossil fuels, mining or extraction of hydrocarbons. They also emphasize increasing importance to agriculture.


He also proposes an overhaul of the tax system that would eliminate exemptions and replaces the idea of minimum wage by real wages that are based on income or capital.