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Significance
The 50.2% of voters who rejected the agreement may prove sufficient to force the FARC back to war.
Impacts
The ceasefire may hold for some time, but disarmament is now extremely unlikely.
Santos's popularity could fall further, and he may be forced to resign before his term ends.
On the other hand, 'yes' voters may rally around him, boosting his approval ratings.
Tourism and foreign investment are likely to suffer, with the prospect of any 'peace dividend' now remote.
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2016
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