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Colombia’s President Ivan Duque yesterday signed the Law 2010 of December 27, 2019 called the “Ley de Crecimiento Económico” or “Economic Growth Law” after it was approved by Colombia’s congress. The administration hopes the law will spur foreign direct investment and grow the...

S&P Global Ratings last week raised its issuer credit rating to ‘B-‘ from ‘SD’ and its issue-level rating on the 9% senior secured notes due 2023 to ‘B-‘ from ‘CCC-‘ and the 8.375% senior unsecured notes due 2020 to...

Colombia’s commercial regulatory authority, the Superintendencia de Industria y Comercio (SIC), has ordered popular ride hailing platform Uber to cease operations in Colombia. So far Uber has rejected the order, indicates it is appealing, and continues to operate. Uber is very...

Colombia’s President Iván Duque Márquez announced yesterday, from his Twitter account, the appointment of University of Los Andes economist Arturo José Galindo Andrade as the new co-director of the Banco de la República, Colombia’s Central Bank, replacing José Antonio Ocampo. “I...

Colombia’s government has raised the minimum wage for 2020 by 6% to $980,657 Colombian Pesos ($298.92 USD) per month, including the transportation subsidy mandatory for employees making less than twice the official minimum wage. The minimum monthly salary will be set at $877,803...