In 2009 she resigned from the Senate to run as a candidate for the 2010 Conservative Party's presidential nomination, finishing third to the eventual Conservative nominee Noemí Sanín Posada. In 2014, she once again ran for the Conservative nomination, this time winning the nomination, but ultimately finishing third in the first round of the 2014 presidential election. Ramirez is also a member of Washington D.C. based think tank, The Inter-American Dialogue.
Ramírez was born on 4 July 1954 in Bogotá, Colombia to Álvaro Ramírez Suárez and Alba Blanco Venturoli, the eldest and only daughter of their four children. In 1974 she married Álvaro Rincón, a Colombian architect; together they have one daughter, María Alejandra. She is of Italian descent through her mother, and thorough her father, she is related to Jesús Ramírez Suárez, her uncle, who served as Chamber Representative for Cundinamarca.