Colombia's Markets Bet on a Pro-Business Win Before Sunday's Vote

De la Espriella Wins Colombia Election, Markets Cheer a Fiscal Squeeze

De la Espriella won Colombia's runoff 49.7%-48.7%, promising lower taxes, smaller state, and oil reopening under the banner of pro-business reform. Markets rallied 10.5% (COLCAP), but fiscal constraints are real: 2.4% growth and 6.4% inflation limit his pledges, with high debt and tight budget rules already binding.