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Colombia Election: Barreras Pushes Investor-Friendly Platform

Bloomberg Markets •
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Roy Barreras, a presidential candidate in Colombia's upcoming election, is positioning himself as a moderate alternative to radical populists on both the left and right. The 62-year-old physician and former head of Congress warned that the country faces a stark choice between investor-friendly governance and populist policies that could destabilize markets.

Barreras, an ally of current President Gustavo Petro, is competing in center-left coalition primaries against former Medellín mayor Daniel Quintero. He aims to secure 3 million votes to build momentum for a broader coalition that bridges the ideological divide. Recent polls show Quintero ahead, while leftist senator Iván Cepeda leads the overall race and conservative lawyer Abelardo de la Espriella trails in second.

Unlike Petro, Barreras supports developing Colombia's energy and mining potential, including offshore oil and gas projects and pilot fracking programs. He argues for a gradual transition to green energy rather than Petro's abrupt policy shifts. Barreras also criticizes Petro's "total peace" strategy with drug-trafficking groups, advocating instead for treating them as ordinary criminals through the justice system.