Xinhua Progressive Party candidate Rodrigo Chavez won the presidential election with 52.85% of the vote. Chavez said after his victory that he would unite all to overcome the difficulties faced, increase employment, reduce the cost of living and eradicate poverty. Chavez’s rival, the National Liberation Party candidate, former President Figueres has conceded defeat, he received 47.15% of the vote. The voter turnout in the second round of the presidential election was 56.9 percent, according to the Colombian Supreme Electoral Court. Chavez, 60, served briefly as finance minister in the current government. He has been with the World Bank for nearly 30 years, and was the Chief Representative of the World Bank’s country office in Indonesia. After Chavez was elected, he faced the important task of revitalizing the domestic economy of Colombia. Although the Colombian economy has begun to recover from the impact of the new crown pneumonia epidemic, it is still facing the pressure of high fiscal deficit and foreign debt, high unemployment and poverty rate. In the first round of the presidential election held on February 6, Figueres ranked first with 27.3% of the vote, and Chavez ranked second with 16.7%. According to Colombian law, if no candidate receives more than 40% of the votes in the first round of the presidential election, the two candidates with the most votes go to the second round. The candidate who obtains a simple majority in the second round of voting will ultimately win.