MNI BRIEF: Fed's Kugler Sees Renewed Progress On Inflation

MNI BRIEF: IMF Cuts Japan 2024 GDP View To +0.7% Vs. Apr 0.9%

CANADA JUNE CPI +2.7% YOY VS FORECAST +2.8%, PRIOR +2.9%

MNI BRIEF: All Options Open Next Meeting - BCB Deputy Galipolo

MNI China Daily Summary: Tuesday, July 16

MNI: PBOC Net Injects CNY674 Bln Via OMO Tue; Rates Unchanged

EZ/UK Bond Supply Calendar: Greece, UK, Germany Due Wednesday

EZ/UK T-Bill Calendar: Portugal, EU Auction on Wednesday

MNI: US MAY BUSINESS INVENTORIES +0.5%; SALES +0.0%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Poor Showing For President Petro In Regional Elections

COLOMBIA
  • This weekend’s regional elections in Colombia marked a particularly poor showing for the incumbent administration, and despite the President’s waning approval, defeat in key cities deals a new blow to Gustavo Petro who could face an even more challenging backdrop going forward. Allies of Petro lost control of all of Colombia’s major cities, potentially signalling fresh obstacles for the President’s reform plans.
  • In Bogota, Carlos Fernando Galan, a centrist former senator promising to crack down on crime and to build new roads, won with 49% support against Juan Daniel Oviedo, former head of the nation’s statistics agency who secured 20%. The government’s candidate, Gustavo Bolivar, came in third with 19%, with more than 96% of the votes counted.
  • However, according to the FT, “analysts said that Sunday’s results were unlikely to compel the president, whose administration as mayor of Bogotá was marked by similar dysfunction, to curb his ambitions.”
    • “It was a decisive defeat, but Petro and the Historic Pact remain powerful in congress,” said Jorge Restrepo, a professor of economics at the Javeriana University in Bogotá. “Petro will insist on his reforms and will strongly oppose the newly elected mayors and governors.”
Political Risk BulletEM BulletHomepageBulletPolitical RiskEmerging Market News
Political Risk BulletEM BulletHomepageBulletPolitical RiskEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.