**Gustavo Petro remains Colombia’s incumbent president under a single-term limit barring re-election, with his mandate concluding upon the inauguration of a successor on August 7, 2026.** No verified early-exit mechanisms—such as successful impeachment, resignation, or constitutional removal—have advanced, leaving the scheduled handover as the dominant driver of market pricing around year-end dates. A June 10 legislative commission motion proposed temporary suspension through June 21 over alleged campaign meddling for leftist candidate Iván Cepeda, yet Petro stays in office pending further proceedings. The May 31 first-round presidential vote, which saw right-leaning Abelardo de la Espriella advance to a June 21 runoff against Cepeda, has not altered Petro’s status. Traders therefore price near-certain continuity until the constitutional transition, with any shift requiring concrete congressional or judicial action within the narrow remaining window.