**Gustavo Petro’s single four-year term ends on August 7, 2026, when the winner of Colombia’s 2026 presidential election is scheduled to take office.** He is constitutionally barred from seeking re-election, making his departure from the presidency automatic by late summer regardless of the election outcome or any interim political pressure. The first-round vote on May 31 produced a runoff between right-wing candidate Abelardo de la Espriella (approximately 44%) and left-wing senator Iván Cepeda, Petro’s ally (approximately 41%). International observers described the process as orderly and transparent, despite Petro’s unsubstantiated fraud claims. A runoff is set for June 21, with the new president to assume office in early August. A recent legislative commission proposal seeks Petro’s temporary suspension through the runoff date over alleged campaign interference, but it requires further approvals and has not taken effect. No successful impeachment or removal has occurred. Petro’s approval ratings recovered modestly in early 2026 amid economic and policy developments, yet the fixed term limit remains the dominant driver of market pricing. Traders assign near-certainty (around 98% for a December 31 resolution) to his exit by year-end because the constitutional calendar overrides shorter-term political volatility.