Colombian President takes second term, calls for peace

World Today

Colombian President Juan Manuel Santos was sworn in for his second term that will run from 2014 to 2018. His victory in the June elections was seen as a referendum vote on the peace negotiations with guerrilla group known as FARC that began in November of 2012. Santos gave a motivational speech that made a call for peace.

Many are optimistic about the signing of a peace agreement in the next four years, and even more so about the effects this will have on the economy.

The United Nations Development Program, a network that advises and grants support to developing nations, recently published a study that claims Colombia’s economy could grow eight percent with peace. But economist Dario German Uma Mendoza says a post conflict era will not lead to an immediate success. He says Colombians have not factored in the impact the war has had on the economy.

President Santos has more than just an armed conflict to solve in the next four-year term. Santos will have to work on rebuilding the agricultural sector that was plagued with strikes during his first four years. Fiscal reform is also on the list, while Mr. Uma continues to warn against an economy dependent on commodities. Mr. Uma says even foreign investment is not what it used to be.

Noticeably absent at the event was former President Alvaro Uribe Velez, a fierce critic of the peace talks. Recently, sworn in as Senator in the new Colombian Congress, Uribe is expected to lead a tough opposition to Santos from his new legislative position these next four years.

CCTV America’s Michelle Begue reports.

Colombian President takes second term, calls for peace

Colombian President Juan Manuel Santos was sworn in for his second term that will run from 2014 to 2018. His victory in the June elections was seen as a referendum vote on the peace negotiations with guerrilla group known as FARC that began in November of 2012. Santos gave a motivational speech that made a call for peace.

Eric Farnsworth, an economic and social development expert and Vice President of the Council of the Americas, talked about the challenges Colombia’s president may be facing.

What obstacles to peace will President Santos face?

Eric Farnsworth, an economic and social development expert and Vice President of the Council of the Americas, talked about the challenges Colombia's president may be facing.