BOGOTA: Colombian President Alvaro Uribe is gaining momentum in his push to change the constitution and run for a third term next year, leaving investors to wonder if the move would damage the country's democratic framework.

The lower House of Congress is expected in the days ahead to vote on bill calling for a referendum to ask Colombians if they want to allow the popular leader to run again in May.

Wall Street likes Uribe's investor-friendly policies and hard-line stance against leftist insurgents. The constitution was already amended once to allow him to run for a second four-year term in 2006.