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The London-based organization credited Santos for leading "one of the biggest successes in brokering peace in modern history.”

The ruling is a victory for Peace Prize winner President Santos and deals a blow to opposition critics fighting to undo the peace accord.

While the ceasefire is temporary, through January 9, President Santos hopes it can be renewed and become "the first step to achieve peace" with the ELN.

Government negotiators and the ELN had stepped up the urgency to reach an agreement in the lead up to this week’s historic visit by Pope Francis.

With 11,000 victims since 1990, Colombia is one of the most "mine-affected" countries in the world.

The perception of security in Colombia is better than the three other largest countries in Latin America: Mexico, Brazil, and Argentina.

After more than a half-century of conflict, and in a historic step forward for Colombia's peace process, FARC has disarmed.

"We have agreed that the arms handover will not end tomorrow as had been planned, but instead within 20 days," said President Santos.

While the $450 million USD pledged by Obama has been approved, doubt remains as to whether the same level of assistance will keep arriving over the long term.

S&P made no changes but suggested it could downgrade Colombia's sovereign rating if the country's fiscal debt burden does not improve within the next 18 months.