Story highlights Colombian voters said no to old peace agreement in October

President Santos wants to avoid referendum on new deal

(CNN) Colombia's government and the FARC rebel group will sign a peace deal on Thursday, President Juan Manuel Santos has announced, following the collapse in October of a previous agreement to end the five-decade insurgency.

Santos, who announced the new deal in a televised address late Tuesday, said the signed pact would need to go to Congress for approval.

Colombians demonstrate with white flags, calling for a peace deal, in Bogota last Friday.

Santos' coalition holds the balance of power in Congress so the deal is likely to pass.

A peace deal negotiated earlier this year with FARC rebels was narrowly defeated by Colombian voters . Many voters were angered by what they saw as insufficient punishment for those who perpetrated a litany of crimes against their people.

Santos met on Monday with former president Alvaro Uribe Velez, who took a leading role in the campaign against the previous deal. The two spent six hours discussing the agreement.

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