The Wheeler Institute for Business and Development recently hosted Álvaro Uribe, former President of Colombia, for an evening of reflection on his presidency and insights into the future of Colombian governance. Moderated by journalist and LBS alumna Consuelo Saavedra, the conversation covered topics from democratic security and economic reform to leadership lessons and the complexities of Latin America’s shifting political landscape. Sergei Guriev, Dean of London Business School presented opening remarks.
Uribe served two presidential terms between 2002 and 2010, leading Colombia through one of its most turbulent and transformative periods. Known for his firm stance on security reforms, he remains as one of the most polarising political figures with his presidency legacy remains a focal case study in Latin America development.
Securing the State: Governance Under Pressure
Uribe framed his presidency as a response to a country in crisis. In the early 2000s, much of Colombia’s territory was under the control of armed groups, hundreds of local mayors were effectively displaced, and widespread violence had severely undermined state legitimacy. This environment created a vicious cycle: insecurity deterred investment, deepened poverty, and fuelled further violence. To break this cycle, Uribe implemented a “democratic security” strategy focusing on restoring state authority, protecting civil liberties and democratic norms, and laying the foundations for economic growth and social cohesion.
According to Uribe the policy delivered tangible security results. Uribe also asserted that kidnappings and targeted assassinations, particularly of union members and teachers, dropped from around 200 in his first year to only 14 in his final year in office. One of the most symbolic moments of the security efforts was the 2008 rescue of Ingrid Betancourt, a former presidential candidate held hostage by the FARC. The operation showcased the strength of state institutions but also bolstered public confidence in the government’s security strategy.
Economic stability and social equity
Uribe’s security policy was closely linked to broader economic and social goals. Uribe asserted that under his leadership, Colombia maintained macroeconomic discipline, avoided default, and navigated regional crisis without hyperinflation. Investment rate in Colombia rose from 16.5% to 24.6% of GDP, while the poverty rate declined from over 50% to around 37%, although economic shocks such as the 2008 global financial crisis constrained further progress towards his goal of reducing poverty rate below 35%.
Uribe also emphasised his strong belief in market-oriented solutions to promote social inclusion. His administration supported and maintained Colombia’s universal health system which combined public and private providers. This mixed system expanded access to healthcare by integrating both contributory and subsidized insurance regimes. Uribe consistently defended this model, opposing later efforts—such as those proposed by the Petro administration—to centralize healthcare management under greater state control.
Post-presidency Politics and the Challenge of Continuity
Uribe also shared his view on the political landscape after his administration, particularly the division with his successors, former President Juan Manuel Santos, who served as Uribe’s defence minister before being elected with his endorsement. The sharp divergence centred around peace talks with the FARC, which Uribe viewed not as a necessary compromise, but as a concession that failed to resolve the structural causes of violence—particularly narcotrafficking.
During Uribe’s presidency, coca cultivation in Colombia had been sharply reduced. By contrast, in the years following the agreement, illicit drug production resurged, with the estimated amount of cocaine reaching market rising from 150 tons in 2010, at the end of his administration, to over 1,800 tons in 2023, as evidence that the peace process lacked enforcement and accountability.
This divergence reflects a broader challenge in Colombian politics: how to balance the pursuit of peace with the need for justice, and how to reconcile short-term political gains with long-term national cohesion.
Lessons on Leadership: Accountability and Adaptation
Throughout the reflection, Uribe emphasised a leadership philosophy grounded in responsibility and a willingness to take ownership of difficult decisions. He reflected on the choice to let his defence minister take the lead during the high-profile Betancourt rescue operation, “Leaders must assume difficulties and delegate successes,” he remarked.
Uribe’s leadership has also been marked by controversy. Uribe remains the first former Colombian president to stand trial while residing in the country. He affirmed his willingness to face criticism, not looking for asylum but choosing to remain politically active in Colombia.
Uribe also underscored the need for adaptability, acknowledging that Colombia, and Latin America more broadly, faces new realities that require updated approaches. For instance, he pointed to the importance of integrating emerging technologies like artificial intelligence into national security strategies, though cautioning that strong institutions and sound governance remain essential.
Colombia’s Present and Future: Risks and Opportunities
On current challenges, Uribe expressed concern about Colombia’s current trajectory. According to Uribe, a rise in violence and a decline in investor confidence, suggests that economic and security indicators are deteriorating. For Uribe, the essential condition for any social or economic progress remains the same: security. He also warned against political polarisation, advocating for constructive opposition —particularly in a context where democratic institutions must be safeguarded.
Uribe also touched on Colombia’s place within the global geopolitical landscape, including its relationships with the United States and China. Uribe acknowledged China’s growing influence in Latin America, viewing it as both an opportunity and a challenge. He argued for pragmatic engagement that does not compromise long-standing alliances, especially given Colombia’s strategic importance to regional and global stability.
Looking Beyond Colombia: Regional Reflections on Latin America
In response to audience questions, Uribe reflected on the broader political trends across Latin America, where leftist governments have gained ground in countries like Chile, Peru, and Mexico. He cautioned against lumping these movements together, noting significant differences in how they approach democracy, rule of law, and economic policy.
He acknowledged that some progressive governments have contributed positively to their countries’ development. Nevertheless, Uribe stressed the importance of addressing the underlying social issues that fuel polarization. Without effective responses to inequality, corruption, and insecurity, political volatility is likely to persist.
As the event concluded, Uribe called on the leaders across Colombians and Latin Americans to embrace political engagement with both clarity and openness: “To fight for the well-being of our country, we must accept self-criticism, not to change our fundamental principles, but to adapt the specifics to the current moment.”
Speakers
Álvaro Uribe Vélez served as President of Colombia from 2002 to 2010. A graduate of Harvard and the University of Antioquia, Uribe began his political career as Mayor of Medellín, later becoming a senator and then Governor of Antioquia. As President, he led a controversial yet transformative agenda known as Democratic Security, which significantly reduced crime and insurgent violence, reasserted state control over territory, and set the foundation for Colombia’s economic stabilization.
During his two terms, Colombia experienced notable GDP growth, a surge in foreign direct investment, and improved business confidence. Uribe’s policies enabled the private sector to operate in regions previously dominated by armed groups, and his market-friendly approach contributed to stronger ties with international trade partners. Post-presidency, Uribe has remained an influential figure in Colombian politics and international forums, speaking on governance, regional stability, and economic development. His legacy continues to shape debates around security, growth, and democracy in Latin America.
Consuelo Saavedra is a Chilean journalist based in London. She hosts a daily live radio show where she provides news analysis and economic & political commentary on Chilean and Latin American affairs (Radio Duna, Chile).
For 25 years she developed and anchored prime-time newscasts; produced documentaries and investigative reporting and hosted interview shows for the Chilean Public Broadcast Corporation traveling extensively throughout Latin America (TVN, Chile).
She holds a Master in Public Administration from Harvard University and an MBA from London Business School. She has been a Nieman Fellow at Harvard and a Poynter Fellow at Yale university. In 2012 she was named Chile’s best TV Journalist by Universidad Adolfo Ibañez and has twice received the Excellence in Journalism award from Universidad Alberto Hurtado.
About the writer
Luise Lin is an MBA 2026 candidate at London Business School and an Outreach and Communication Intern at the Wheeler Institute for Business and Development. Prior to joining London Business School, she worked at Boston Consulting Group as Consultant in Australia, where she advised clients across private and public sectors as well as social enterprises. Luise is passionate about leveraging managerial science, innovative business models, and financial solutions to drive scalable economic development impact in developing regions. She is particularly interested in the intersections of management, policy and social impact, exploring how private sector solutions can contribute to sustainable development.
The views expressed and data shared in this article reflect the perspectives shared by former President Álvaro Uribe during the event. They do not represent the views of the Wheeler Institute.