Gustavo Petro ceded his front-runner status for Colombia’s presidency to a little known 77-year-old construction magnate, in a sign of how voters are increasingly willing to gamble on untested leaders who promise change.
Rodolfo Hernandez’s surprise surge to place second in Sunday’s election sets up a June 19 runoff with Petro, a former mayor of Bogota whose program includes proposals to phase out the oil and coal industries.
Petro, 62, had been tipped as the favorite to become Colombia’s first leftist leader, but the upset prompted other candidates to quickly offer Hernandez their endorsements, potentially tipping the balance in his favor. Markets are set to rally on Tuesday after a holiday on the belief that anyone would be better than Petro.
