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Iván Duque won convincingly in a second-round run off election over leftwing candidate Gustavo Petro, a controversial former M-19 guerrilla member.

Colombians today will put either rightwing candidate Iván Duque or leftist Gustavo Petro in office for the next four years.

Duque says that tax reform to cut the corporate rate below 30% is one of the ways Colombia can get back to 5% annual GDP growth.

Growth will be driven by higher commodities prices, improved household consumption, and a more balanced performance across various sectors.

The prediction is slightly below the 3.0% and 2.9% forecasts from the World Bank and IMF, respectively.

The IMF projection is in line with the 2.9% prediction issued last week by the World Bank.

Looking further ahead, the World Bank has forecast Colombian GDP to increase by 3.4% in both 2019 and 2020.