Balcázar Monzón is a member of the Colombian Liberal Party. He served as Member of both the Senate and the Chamber of Representatives of Colombia, presiding over both chambers of Congress. He also served in the administrations of President Guillermo León Valencia as the 48th Governor of Valle del Cauca, and as the 16th Minister of Agriculture, and in the administration of President Julio César Turbay Ayala as the 18th Ambassador of Colombia to the United Kingdom, and Non-Resident Ambassador to Algeria.