Weekly Report - 27 April 2023 (WR-23-17)

Petro scraps ruling alliance and jettisons seven ministers

Colombia’s President Gustavo Petro has taken a political gamble that could shape the rest of his presidency. Barely eight months after taking office, Petro has terminated a ruling alliance forged last August with parties from across the political spectrum that had, ostensibly at least, given him a commanding majority in both chambers of congress. He did so because he had lost patience with allies he felt were more intent on stymieing than stimulating the political change he promised to deliver. Petro proceeded to cut two of these parties out of his cabinet amid seven ministerial changes. It is far from certain that this will help Petro recover his faltering popularity, and his decision to surround himself with loyalists and replace his moderate finance minister were not moves calculated to assuage investor concerns about the future direction of his government.

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