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Leftist Petro Takes Early Lead in Colombia Presidency Vote

Global Jun 20, 2022 07:12
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© Reuters.

(Bloomberg) -- Leftist candidate Gustavo Petro took an early lead in a partial vote count for Colombia’s presidential election. 

Petro had 50.3% to 47.5% for construction magnate Rodolfo Hernandez, with some 34% of ballots tallied on Sunday, according to Colombia’s election authorities. 

Petro, 62, has pledged a radical overhaul of the nation’s pro-business economic model. He wants to boost import tariffs, impose higher taxes on the rich, and phase out oil and coal. 

Hernandez, 77, is pledging a crackdown on corruption and waste. 

The fact that two anti-establishment candidates made it to the runoff despite one of the fastest rates of economic growth in the Americas this year is a sign that Colombians are demanding a shift away from the traditional style of politician who has led the country for decades. The outcome is also likely to upend the nation’s close relationship with the US. 

“Things will not be the same again,” said Mauricio Cardenas, a former Colombian finance minister who is now a regional adviser for Goldman Sachs Group Inc (NYSE:GS). “Here we have two outsiders, people who are not part of the system.” Regardless of the winner, he added, this election will mark “a turning point.”    

(Updates vote count in second paragraph.)

©2022 Bloomberg L.P.

 

Leftist Petro Takes Early Lead in Colombia Presidency Vote
 

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