Will Colombia’s New President Upend Its Oil Industry? ...Middle East

Leftist candidate Senator Gustavo Petro emerged victorious from Colombia’s June presidential run-off as the strife-torn country’s president elect. On 7 August 2022 Petro will be sworn into office becoming the 34th president of the Republic of Colombia. This has roiled Colombian financial markets and the Andean country’s currency the peso. Since Petro beat multimillionaire businessman Rodolfo Hernandez the Colombian peso has tumbled by almost 6% while the domestic stock market has shed 6.1%. The president-elect’s proposed…

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