President Gustavo Petro’s Approval Rating Dips to 46% in Colombia

Colombian assets have fallen, with the nation’s currency closing Wednesday at a record low, amid investor concern over the agenda of its first leftist president

Gustavo Petro.
By Patricia Laya
October 20, 2022 | 11:32 AM

Bloomberg — Colombian President Gustavo Petro’s approval rating dropped to 46% in October from 56% in August, his first two months in office, as concern about the nation’s economy mount.

Disapproval of Petro’s administration doubled to 40% from 20% and the percentage of people who think things are worsening increased to 64% from 48% during the same period, with rising costs and unemployment among the top concerns, according to an Invamer poll published Wednesday. Petro took office Aug. 7.

“This latest poll should be a wakeup call for the government,” said Sergio Guzman, director of Colombia Risk Analysis. “People are upset at how the government is handling the economy, about inflation, and have an overall negative outlook on the country’s direction.

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Colombian assets have fallen, with the nation’s currency closing Wednesday at a record low, amid investor concern over the agenda of its first leftist president. Petro’s proposal to transition away from fossil fuels have also led to major losses for the market value of Ecopetrol, the state-owned oil giant.

The percentage of Colombians who approve of Petro’s plans to end oil and gas exploration dropped to 38% from 41%, according to the Invamer poll. The poll of 1,200 people was conducted Oct. 8 to Oct. 18 and has a margin of error of 2.83%.

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