Colombia's First Ever Left-Wing Government... Rising Second 'Pink Tide' (Comprehensive)

Leftist Coalition's Petro Elected... People's Desire for 'Change' Rises Amid Increased Poverty and Unemployment
Leftist Governments Follow in Latin America Including Mexico and Argentina... Left Leads in Brazil's 'October Presidential Election'

[Asia Economy Reporter Byunghee Park] For the first time in history, a left-wing government has been established in Colombia, signaling a strengthening wave of the so-called "Second Pink Tide" in Latin America, where left-wing governments have been coming to power one after another. In Latin America, the Pink Tide wave, marked by the emergence of left-wing governments in the 1990s and early 2000s, was strong.

The left-wing governments, which had grown in power due to the rise in commodity prices, experienced a decline during the economic crisis but have succeeded in coming to power one after another since late 2018 in countries such as Mexico, Argentina, Peru, and Chile.

On the 19th (local time), The New York Times reported that Gustavo Petro (62), the presidential candidate of the left-wing coalition "Historic Pact," was elected in the runoff of the Colombian presidential election held that day.

With more than 97% of the votes counted, candidate Petro is recording 50.57% of the vote share. His competitor, businessman Rodolfo Hern?ndez (77), has 47.16%. Hern?ndez admitted defeat, saying, "The Colombian people have chosen another candidate, and I accept the result." The voter turnout for this election, with 39 million eligible voters, was just over 58%.

Petro will succeed current President Iv?n Duque and take office in August.

Gustavo Petro, President-elect of Colombia (left), responds to cheers from supporters on the 19th (local time) in the capital, Bogota. Petro won about 51% of the vote in the Colombian presidential runoff held that day, becoming the first left-wing candidate to be elected president.
Photo by EPA Yonhap News

The New York Times analyzed that the election result reflects the public dissatisfaction that escalated to the point where hundreds of thousands took to the streets in protests last year. Colombia is facing a very difficult economic situation with a poverty rate of 40% and an unemployment rate of 11%. The election was held amid public opinion demanding change more than ever, as the wealth gap is severe, economic opportunities are lacking, and violent crime is increasing.

Petro, who challenged for the presidency for the third time, tapped into the voters' desire for change. He first ran in the 2010 presidential election, finishing fourth with 9% of the vote, and in the previous 2018 election, he advanced to the runoff. In that runoff, he lost to current President Iv?n Duque by a margin of 12 percentage points.

Both candidates, Petro and Hern?ndez, ran against the political class that has dominated the country for generations, claiming to be anti-establishment candidates. However, they differed in their understanding of the root causes of Colombia's problems.

Petro argued that the economic system was damaged due to excessive reliance on oil exports and the cocaine trade, which widened the wealth gap. He pledged to halt new oil exploration, develop other industries, expand social welfare programs, and impose higher taxes on the wealthy. Regarding relations with the United States, he said he would focus on cooperation to address climate change and work to prevent the destruction of the Amazon.

Former Colombian Economy Minister Juan Carlos Echeverry criticized Petro's energy policy as economic suicide.

Petro's election is also a result of the peace agreement signed in September 2016 between the Colombian government and the rebel group Revolutionary Armed Forces of Colombia (FARC). The New York Times noted that the half-century-long civil war led by FARC had been an obstacle to the growth of left-wing political power in Colombia. Petro himself was a member of the leftist guerrilla group "M-19" in his youth. M-19 disbanded in 1990 and attempted to transform into a political organization, and Petro is currently a senator and former mayor of the capital, Bogot?.

With Petro's victory, the political landscape in Latin America has clearly shifted to the left. Among the major Latin American countries by economic size, except for Brazil, Mexico, Argentina, Colombia, Chile, and Peru all have left-wing governments in power.

In Brazil, which will hold a presidential election in October, left-wing former President Luiz In?cio Lula da Silva is also highly likely to regain power. If a left-wing government is established in Brazil as well, all six of the largest economies in Latin America will be governed by left-wing administrations for the first time.

This content was produced with the assistance of AI translation services.