Colombia

Gustavo Petro, a former leftist guerrilla who is now a prominent socialist politician, was sworn in as mayor of Bogotá on January 1. The post is considered to be the country's second most powerful position. Petro was elected after former Mayor Samuel Moreno was detained on corruption charges in September 2011. The new mayor has promised to fight corruption and improve inequality in the capital city. If successful, these efforts will positively impact the country's business environment and provide a boost to government attempts to root out widespread corruption.

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