The Colombian Senate brought President Colombia's Álvaro Uribe a step closer to a third term when it approved a bill allowing for a reelection referendum. But the president has not yet made his intentions clear about a possible candidacy. Meanwhile, Defense Minister Juan Manuel Santos resigned and may join the race.

Earlier this week, Colombian lawmakers approved a controversial referendum bill that paves the way for President Álvaro Uribe to seek a third consecutive term in office. While Uribe has not said whether he intends to run again, he has certainly done nothing to discourage the idea.

By striking free-trade agreements with Colombia and Peru, "Canada is taking a leadership role in the logical and inevitable move toward freer trade," writes Canadian Senator Pamela Wallin.

Diplomatic relations between Bogota and Quito remain distant despite efforts from the international community to mend them. Moreover, criminal and terrorist groups may take advantage of the situation along the border.

As violence related to organized crime takes its toll in Mexico, the debate deepens over hemispheric drug policy. Proposals on the table range from stepped-up security cooperation to drug decriminalization. Meanwhile, Washington announced widespread arrests of suspects linked to Mexican cartels.

In the last week, six Colombian hostages regained their freedom in what many say is a calculated political move by the Revolutionary Armed Forces of Colombia. But recent bombings in Bogota and Cali could muddy the path forward.

President Hugo Chávez and his Colombian counterpart Álvaro Uribe may each seek reelection. Both command high approval ratings but face possible political and economic challenges in the coming year.