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Economy & Business - November 2024

COLOMBIA: Battered by scandal, guerrillas, uncertainty

Colombia’s President Gustavo Petro had hoped to showcase a more peaceful and prosperous country on the path to socio-economic equality and environmental sustainability as it hosted the United Nations Biodiversity Conference (COP16) in late October. Instead, he faces a formal inquiry into allegedly illegal financing of his 2022 election campaign; his ‘total peace’ initiative has given way to renewed hostilities with guerrilla fighters; the economy is struggling to recover from one of its worst performances in recent times; and major reform initiatives aimed at shaping a more equitable society have either stalled or been watered down.

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