The candidate Gustavo Petro confirmed on Sunday the favoritism that the polls had been highlighting for a few weeks.

(Positions in the Historic Pact for Pensions & Inflation)

The former mayor of Bogota as well as former senator of the Republic was the winner of the Historic Pact alliance and officially became a candidate of the presidency for the Republic which that he's aspired to in the past three years.

The large majority of votes during the consultation makes to him being the most representative persona of the Colombian left and a firm candidate to be president despite his controversial ideas and opinions on various fronts, not least the one on economics.

Petro has stated his intention to change the pension system by the establishment of a public administrator of pension funds to have a "mixed and complementary system" along with private fund.

gustavo petro The candidate has said that in Colombia "we do not have pension systems, but the system is based on bank profits," so many claim that he will end the chances of reaching the Presidency. Petro recently said that he will not abolish the system but would push for reforms to the pension system so that they can provide the minimum amount of income to Colombians. Petro said, however, that it was not necessary to increase the retirement age.

gustavo petro (Who are on the list of Historic Pact's possible candidates).

Another controversial issue is the fact that he's repeatedly stated that he'll stop extraction of oil by the time the time he assumes office. This is an issue that has led to confusion for investors.

Experts believe that Petro's plan of ending oil exploration would have a devastating effect on Colombia which would cost Colombia $4.3 trillion.

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

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

His position on health issues is also controversial since he has argued on eliminating EPS and replacing it with a preventive model that "guarantees the rights of individuals and not the profit of bankers". He has also questioned the legitimacy of Banco de la Republica.

Petro stated that the Bank Board of Directors belonged to the Democratic Center and "What we need is an independent Bank of the Republic (...) it is essential that the board of directors is a part of society members," the candidate stated during a debate.

Invamer claims that Petro leads the presidential election in voting intentions.

The idea was controversial because he had proposed to issue cash to fund government spending.

Petro's plans include an economy that is not dependent on mining and extraction of hydrocarbons, as well as a stronger agricultural role.

It is also stated that he will introduce a tax reform plan which would end exemptions and transform the definition and concept of minimum wage into an actual income-based wage.