De La Espriella to take office as Colombia president on pledges of security crackdown

Investors have welcomed De La Espriella's market-friendly agenda, but expectations for rapid change are tempered by fiscal constraints and high public debt.

The head of the stock exchange has called for simpler participation by foreign and retail investors, lower transaction costs, eliminating dividend taxes and increasing state-owned energy company Ecopetrol's publicly traded shares to 20%. Oil and mining guilds are optimistic but say changes must come quickly if Colombia is to ramp up gas production and meet other pressing needs.

The new administration is likely to focus its first 100 days on steps that De La Espriella can take directly, consulting firm Colombia Risk Analysis said in a report on Thursday.

"Security and anti-corruption efforts will likely serve as the most visible pillars of early momentum, though largely through workarounds and partial measures rather than full-scale execution. Coca eradication is likely to proceed via aerial fumigation spraying by airplane and drone ... alongside continued military pressure through bombings and raids," the report said.