Gustavo Petro, Candidate for the presidency, confirmed on Sunday the favouritism that was evident in polls over the past several weeks.

(Position of the Candidates for the Historic Pact On Pensions and Inflation).

The former Bogota mayor Bogota as well as former senator of Republic took the victory in the Historic Pact alliance and officially was elected to the presidency for the Republic which he has aspired to in the past three years.

He's the most representative persona in the Colombian left and is a strong presidential candidate despite his controversial views and plans on a variety of fronts, including economic.

Petro declared his intention to change the pension system through the establishment of a public administrator to pension funds. Petro also plans to create a system that is "mixed-and-complementary" with private funds. stated that Colombia has no pension system, but instead, a system of bank profit. This is what people believe makes him the most likely choice to win the president. However, Petro recently said that he would not eliminate them however, he would like to reform the pension system to create a minimum retirement age for Colombians. He said "no is the need" for an increase in the age of retirement.

(Who are to be the candidates for the Historic Pact?

Another issue that has caused controversy is that he has repeatedly stated that he would end oil extraction before the time he assumes office. has been an issue that has created uncertainty among investors.

Experts estimate that Petro's plan to stop oil exploration could cost Colombia approximately $4.3 billion.

Furthermore, this plan would create an antioil front in the globe and across the region that would shift the economy away from fossil fuels. To accomplish this I'd like to invite Gabriel Boric the Chilean president and LuizInacio Lula Silva, the Brazilian president.

Petro stated that he has talked to Pedro Sanchez, the Prime Minister of Spain about his proposal.

His position on health concerns is also controversial. He has insistent on the end of EPS to replace it with a preventive system that "guarantees all rights of individuals and not the financial gains of banksters".

He has also questioned the independence of the Banco de la Republica and declared that he will make a reform in the event of becoming the President.

Petro stated that the Bank Board of Directors belongs to the Democratic Center. Accordingly, the candidate at the center of a discussion stated "What do we need? An independent Bank of the Republic (...) seems to me essential that the board of director is a part of the society."

Invamer claims that Petro is the main voting intention for the presidential election. was controversial because he proposed issuing cash to fund government spending.

Petro's proposals concentrate on a sustainable economy that isn't dependent on fossil fuels.

It is also mentioned that he could introduce a tax reform that would eliminate exemptions and change the concept of minimum wage into real wages based on the income and capital.