The New Shift from Pink to Green in Latin America

By: John Feffer

Colombia's new leader, Gustavo Petro, aims to shift the economy away from oil, coal, and narcotics to sustainable activities.

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Colombia's pivot from fossil fuels and narcotics could inspire other countries, as climate targets are at risk of being missed.

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Resistance to Colombia's plan to phase out fossil fuels has come from the government's finance and energy ministries and the oil industry.

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Colombia's government faces a massive debt problem, with one-third of revenues going to service foreign debt, which is common in the Global South.

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Petro's approach is novel in Latin America, where the left has typically favored raw material extraction to boost government revenues.

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Latin America's growth strategies have failed, leaving the region the most economically unequal, falling further behind the North.

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Colombia's new approach under Petro is part of a "pink wave" in Latin America with progressive leaders in power.

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Petro and Francia represent a new paradigm of economic development, which is more focused on green policies than traditional left-wing politics.

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