According to the reports, Colombia's newly elected President Juan Manuel Santos faced immediate security challenges as part of his mixed inheritance from outgoing President Alvaro Uribe.

The hugely popular Uribe, who hands over power to Santos Aug. 7, has been battling armed drug overlords involved in the cocaine trail to the United States. Controversial military pacts with U.S. forces couldn't dislodge the guerrilla gangs that exert control over parts of Colombia.

It was also reported that despite Uribe's exceptional achievements in turning the economy around and wresting control of much of the territory previously in the hands of FARC rebels, the ongoing conflict, narcotics traffic and urban crime remain top challenges for the incoming president, who won a clear majority in the second round of polling Sunday.

Analysts have said that much of the country's budget will continue to go into defense expenditure for an over-sized military machine and additional U.S. assistance will go into continuing the joint operations against the guerrillas.

Santos received nearly 70 percent of the vote, against less than 30 percent for the

It has further been reported that in a victory speech, Santos made a strong call for national unity and promised to improve relations with neighbors, Ecuador and Venezuela, both of which oppose Colombia's close ties with the U.S. military.

He further said, "This is your triumph, too, President Uribe. We'll build on the progress you achieved over the past eight years. Thanks to the security we've created, we can now focus on creating jobs, fighting poverty and providing opportunities for all Colombians." (With Inputs from Agencies)