The most representative ETF of the Colombian market, the Global X Colombia, shows a positive 1% variation and is at the highest level of the week.

Gustavo Petro’s inability to pass socialist reforms in Colombia is perceived as beneficial for Colombian assets due to the stability it brings to the investment environment. Petro’s socialist agenda, if implemented, could potentially introduce policies that unsettle investors and undermine confidence in the market.

However, his challenges in passing such reforms through Congress have resulted in a more moderate economic environment, reassuring investors and allowing Colombian assets to perform more steadily.

The perceived risk of radical policy shifts diminishes, contributing to a positive sentiment among investors and supporting the upward trajectory of Colombian assets, including the Global X Colombia ETF, which reflects improved market conditions and investor confidence in the country’s economic stability.