Colombian presidential front-runner Gustavo Petro pledged on Monday that he will not expropriate private property if he wins the nation’s presidency this year as critics in the South American country accuse the leftist candidate of wanting to make radical changes to the country’s economy. Petro made the electoral promise in a public notary in Bogota, where he signed a document that said that “nothing or nobody will be expropriated” if he becomes president. In the document, Petro said he was obliged to make the unusual pledge, because his campaign has been tarnished by “lies and fear mongering.”
As the presidential race in Colombia enters its final month, Petro’s opponents have accused him of wanting to implement economic policies similar to those of Hugo Chavez. The former Venezuelan president nationalized dozens of industries, eroded the independence of his country’s central bank, and imposed exchange controls as he vastly increased the government’s role in the economy. In recent years, almost two million Venezuelans have fled to Colombia to escape their country’s economic troubles, including hyperinflation and the lowest wages in South America, which makes comparisons to Venezuela relevant among many voters in Colombia.
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