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Financial News: COLOMBIA: Elections Are The Main Source Of Uncertainty

COLOMBIA: Elections Are The Main Source Of Uncertainty - Scotiabank

04/12/2018 - 18:34:00 (RTTNews)

(RTTNews) - The presidential elections scheduled for May are the main source of uncertainty in Colombia, and it is likely that the second round should be contested between Ivan Duque, supported by the former president Alvaro Uribe, and Gustavo Petro, the center-left former mayor of Bogota, according to a Scotiabank report.

The results in the primary elections held on March 11 seem to suggest that Duque currently has stronger backing. He got around 33% more votes than Petro in the primaries.

On the growth front, "activity remains slow but shows signs of improvement, we expect stronger world trade and higher oil prices to help boost growth to 2.5% in 2018 and 3.5% in 2019," the report said.

Finally, Scotiabank stressed that "local markets in Colombia have been firm, with the Colombian peso being the second strongest currency in Latin America so far this year."

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