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Ecopetrol subsidiary Reficar has asserted that CB&I has entered into an internal restructuring to avoid honoring the debt a court ordered it to pay in June.

"We are in the first free territory of Latin American, thanks to Benkos Biohó," said Brayan Montoya in this interview from historic San Basilio de Palenque.

The central bank could hit Fedesarrollo's year-end estimate of 12.5% with cuts of 25 and 50 basis points in October and December, respectively.