President Gustavo Petro has proposed creating a National Constituent Assembly and opening a bank account to collect funds to drive the initiative [1, 2].
The move comes as Colombia approaches a pivotal election cycle. Opponents argue that attempting to rewrite the country's foundational legal structure through a crowdsourced fund could trigger economic volatility and political instability.
Presidential candidates including Iván Cepeda, Paloma Valencia, Abelardo de la Espriella, and Sergio Fajardo reacted to the proposal with criticism [1, 2]. The candidates said the measure could damage the economy of the country [1, 2].
Petro seeks to use the assembly to implement structural reforms and establish a new level of legitimacy for his policy goals [1, 2]. By soliciting direct funding from the public, the president is attempting to bypass traditional legislative hurdles — a move that has drawn sharp rebukes from his political rivals.
One presidential candidate said, "Espera arruinar nuestra buena economía para que perdamos elecciones. Del pueblo depende su futuro" [1].
The timing of the proposal is critical as the country prepares for the presidential election on May 31, 2026 [2]. Critics suggest that the push for a new constitution is a strategic attempt to alter the political landscape just weeks before voters head to the polls [1, 2].
While Petro maintains the assembly is necessary for the nation's evolution, the opposition views the bank account for fundraising as an irregular method of political financing [1, 2].
“President Gustavo Petro has proposed creating a National Constituent Assembly.”
The proposal represents a high-stakes gamble by President Petro to shift the legal framework of Colombia shortly before the 2026 elections. By seeking direct funding from citizens, Petro is attempting to create a populist mandate for structural change that bypasses the current congressional deadlock, while opponents frame this as a threat to the economic stability required for a fair electoral process.
