Colombia presidential race final stretch shadowed by social unrest warnings
In Colombia's final stretch toward the presidential vote, warnings of street protests and possible violence are intensifying ahead of a potential win for far-right candidate Abelardo de la Espriella. Unions and left-wing movements are preparing protests, and the Colombian peso has come under pressure on currency markets.
As Colombia heads into the final stretch of its presidential election, far-right candidate Abelardo de la Espriella's growing poll lead has triggered large-scale protest planning among unions and social movements. El País reports that three major union confederations have announced general-strike preparations should he win, with one leader saying "everything will start the day that man is installed".
Supporters of the outgoing left-leaning government oppose his pledges to radically restructure state institutions, while De la Espriella's campaign has hammered on rising crime statistics. Police in Bogotá and Medellín have already deployed additional units for anticipated demonstrations. Sandra Borda, of the Camerlin think tank, told El País that "polarisation has never been this high".
Markets are already reacting. The MSCI Colcap index has shed about 2.1% since Monday, and the peso has weakened to 4,310 against the dollar. JPMorgan analyst Diego Pereira said election uncertainty has produced "a visible jump in short-term risk premium". Polling stations open on 22 June for the first round of voting.
Read next
Iran's rial rebounds and Tehran stocks soar, but everyday prices still bite hard for households
Al Jazeera Economy reports the Iranian rial has rallied against the dollar and Tehran's stock exchange has surged 12% after the framework agreement with Washington. However, supermarket prices for staple food and medicines in the capital have not eased significantly in the short term. Iranian economists say the macro improvement will take weeks to feed through to consumer baskets.
US-Iran deal leaves core sticking points unresolved as $300 billion question takes shape
New Zealand regional airline Originair posts 'horrific' year as jet fuel surge bites
Northern Territory smart-meter rollout botched: bills delayed months, government admits failure
Philippines central bank lifts policy rate to 6.75% to rein in inflation surge
