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While the peace process and divisive politics in Bogotá will be thornier issues, Duque's management of the fiscal deficit will prove tricky even amid rising GDP growth rates.

"The continuation of fiscal adjustment, as per Colombia's fiscal rule, will be important for sustaining policy credibility," said Fitch Ratings.

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.

Peace negotiations between Colombia’s government and the ELN have reached their most precarious moment since they began last year.

Petro narrowly beat out third-place finisher Sergio Fajardo by around 260,000 votes out of more than 19.6 million cast.

Rightwing candidate Iván Duque, the protege of former President Álvaro Uribe, was the frontrunner in the last major poll before the election.

Peace talks resumed this week in Havana between the Colombian government and the nation’s remaining guerrilla faction, the National Liberation Army (ELN).

The abduction reportedly occurred around 7:30 am on the day that the UN head arrived in Colombia to discuss the nation’s peace process.

The UN pledged to support "Colombia's activities to encourage local communities to voluntarily give up coca cultivation.”