From 1958 to 1974 it, and the other major party, the Colombian Conservative Party, shared power as the result of the 16 year National Front agreement that followed the fall of General Gustavo Rojas Pinilla.
It was the largest single party in the Colombian Congress, with 54 out of 166 deputies, and 28 of 102 senators in 2002. In the election of 2006, the party won 38 out of 166 Deputies and 18 out of 102 senators. The current President of Colombia, Álvaro Uribe Vélez, is a former member of the party, having crafted all of his political career prior to his election (where he ran as an independent Liberal) inside it.
Most of the current "Officialist" (as named by the Colombian press) leadership of the Liberal Party is openly opposed to Uribe's government and his policies, but he has the strong backing of a substantial minority within the party, including a majority of the elected Liberal congressmen (classified as "Uribist" Liberals by the media), a few of which experienced an internal investigation for alleged "party indiscipline" (their failing to abide by the liberal party's official stance, especially because of their support for several government measures, including a successful reform to the constitution which allows presidents to run for a second consecutive term in office).
