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Candidate Petro Hints At His Potential Future Finance Minister

COLOMBIA
  • Colombians go to the polls on Sunday for the second-round runoff of their presidential election between Gustavo Petro and Rodolfo Hernandez. Earlier today, while speaking on BLU Radio, candidate Petro revealed his shortlist of economists who could be the nation’s next finance minister if he wins on Sunday.
  • The names mentioned were as follows:
    • Alejandro Gaviria, a former health minister who ran for president but was defeated in the primaries of the centrist coalition. Gaviria endorsed Petro in the second round.
    • Rudolf Hommes, a 78-year-old economist who was finance minister in the early 1990s.
    • Cecilia Lopez, who served as agriculture and environment minister in the 1990s, and was a senator from 2006 to 2010.
    • Ricardo Bonilla who was Petro’s finance chief when he was mayor of Bogota.
    • Other names touted were Jorge Garay, Jorge Ivan Gonzalez and Luis Fernando Medina who are all researchers/academics.
  • The appointment of Gaviria or Hommes would be welcomed by investors, said Sergio Guzman, director of Colombia Risk Analysis.
    • On the other hand, they might not last long in the role, since they won’t always see eye to eye with Petro, Guzman added. (Bloomberg)
    • “It’s important to recognize the very large turnover that Petro had during his time as mayor of Bogota,” of people in key roles, Guzman said.
  • Petro said he seeks to raise as much as 50 trillion pesos ($12.8 billion) per year in taxes to provide pension subsidies to vulnerable older Colombians, buy crops directly from farmers to fight poverty, and cut the fiscal deficit. (BBG)
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