Colombia's President Gustavo Petro faces a constitutionally mandated end to his single four-year term on August 7, 2026, after voters select his successor in the May 31 presidential election. Barred from seeking re-election, Petro has focused recent efforts on economic emergency measures, tax reforms, and a proposed constituent assembly to advance his agenda before the transition. His approval ratings have rebounded toward 50 percent amid minimum wage increases and public sector pay adjustments, bolstering the prospects of his preferred candidate in the race. No active impeachment proceedings, resignation indications, or judicial actions currently threaten an early exit, and U.S. investigations into alleged drug ties remain preliminary with no charges filed. Traders assess the likelihood of abrupt removal against the scheduled handover, factoring in any late-session legislative pushes or coalition shifts ahead of the vote.