Petro's presidency would be a big risk for Colombia, says former IDB president

Luis Alberto Moreno Mejía, former president of the Inter-American Development Bank, spoke to W Radio about the possibility of Gustavo Petro winning the presidential elections on May 29. He assured that he is concerned about this possible scenario.

He explained that, in Colombia, only 35% of its gross domestic product, GDP, comes from foreign trade. But, it's concentrated in oil or coffee. “We have a tremendous capacity for diversification and we are only going to achieve that, as the Secretary of the Treasury of the United States recently said, value chains with friends.” He assured that the world is experiencing a very sensitive polarization, which has Russia or China as an option.

One of the strategies that the country should employ is to articulate production chains and boost trade with those considered allied nations, since, he says, “it is the only way to grow our economy”.

He assured that the country has thousands of economic and social challenges, but these will only be overcome

He declared his opinion stating, “I am concerned about the unpredictability of Petro.”

But it is not only the challenges of inequality that the country must face, Moreno said that in general, all governments in Latin America must focus their mandates to reduce these rates, being one of the main issues in the region. He explains that, in the world, there is nowhere else with such high levels of inequality.

Another issue, which from his experience in the presidency of the Inter-American Development Bank must be addressed, is the acceleration of the processes of inclusion, “we can work, but we must leave aside what characterizes the discussions and divides us. We are in a situation where the most important thing is to have governments and leaders of countries that are predictable and not unpredictable, what the path of populism and division has done is to delay development”, a vision similar to that of the picture that Colombia may have, in the possible rise to power of Gustavo Petro.

In fact, Luis Alberto Moreno was once nominated to be a candidate for the current presidential elections, but he is dedicated to other tasks and personal projects, although he would be another one of those considered “great businessmen” who express their concern or discontent in the occasional victory of Gustavo Petro.

In fact, the National Trade Union Council met with candidate Sergio Fajardo a few days ago, noting that the only one that has had a dialogue with them is precisely the candidate of the Historical Pact,

said Jaime Alberto Cabal, president of the union.