Risk Radar Newsflash | Presidency Win for Gustavo Petro in Colombia Poses Short-term Services Delivery Risk; Firms Should Adopt a Wait-and-Watch Approach
On June 20, 2022, Colombia elected its first leftist president, Gustavo Petro. A former guerrilla rebel member, Petro has promised radical reforms to address challenges related to inflation and inequality, bring in foreign investments, and reduce dependency on the oil and gas industry. Uncertainty remains over how these reforms will be carried out in the country, especially given Petro's background and the lack of majority in the Congress.
This Risk Radar Newsflash examines the impact of Petro’s historic presidential win, its impact on the geopolitical, macroeconomic, and security situation of Colombia, and the ramifications on global services firms in the country.
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