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Colombia: Government

Key Figures

Chief of State:
President Gustavo Petro Urrego
Head of Government:
President Gustavo Petro Urrego

Overview

Government Name:
Republic of Colombia
Constitution:
Adopted: 1991; Has recently been called the Constitution of Rights. Main changes include Colombia changing the shape of a decentralized unified state with a certain autonomy for its territorial entities, a presidential system, and the banning of the extradition of Colombian citizens. Presidential reelection has been banned completely and the power of judicial review was transferred from the supreme court of justice to an independent constitutional court.
Government Type:
Republic under Authoritarian Presidential Rule
Republic of Colombia Flag
Coat of Arms of Republic of Colombia

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2023)

Country Risk Rating

B
Political and economic uncertainties and an occasionally difficult business environment can affect corporate payment behavior. Corporate default probability is appreciable. Source: Coface (2023)

Government Branches

Main Powers Election Process Election Cycle 1
Executive

The president is in charge of executory tasks of the government and has strong policy-making authority. It can also call congressional session.

The president is elected by absolute majority vote through a two-round system.

4 years
Judicial

The supreme court of justice is in charge of civilian cases. The council of state is in charge of administrative cases. The constitutional court is in charge of constitutional cases.

Supreme court judges are appointed by the congress from candidates submitted by the president.

8 years
Legislative

The legislature is in charge of policy making and budgets.

The senate's 108 members and the house of representatives' 100 members are both elected through a party-list proportional representation system.

4 years

Regional Trade Blocs
CAN

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
Dirección de Impuestos y Aduanas Nacionales
Tax Name:
VAT

Sources:

  1. ElectionGuide http://www.electionguide.org/
  2. EY, http://www.ey.com
  3. CIA World Factbook, https://www.cia.gov/the-world-factbook/
  4. U.S. Bilateral Relations Fact Sheets http://www.state.gov/r/pa/ei/bgn/