Finance Colombia » Economy

Sergio Guzmán: Coronavirus Pandemic Threatens Systemic Disruption To Colombian Society, Politics

Colombia is in the middle of a national curfew as part of the country’s effort to contain the spread of the Coronavirus COVID-19 Pandemic. With certain exceptions, no one is to leave their homes until April 13, the day after Easter. As is the case around the world, the economic...

Posted On March 31, 2020

, By Loren Moss

Homicide Crime Photo Courtesy Geralt Pixabay

Financial Bloodbath: Colombian Bellwether Stocks Avianca & Ecopetrol, Colombian Peso All Plunge

Colombia's currency and bellwether stocks Avianca & Ecopetrol all took a plunge this week s double whammies of coronavirus panic and petroleum trade wars between Saudi Arabia & Russia impact the global economy. How will things play out?

Posted On March 11, 2020

, By Loren Moss

Colombia’s Central Bank Holds Urgent Meeting To Review Deteriorating Global Economy: Coronavirus, Saudi-Russian Oil Price War, Falling Currency

Colombia's Central Bank, Finance Ministry, and Financial Regulator met today to discuss the rapidly deteriorating global financial situation fueled by coronavirus, outbreak of petroleum price war, and a falling currency value.

Posted On March 9, 2020

, By Loren Moss

Coronavirus A Threat To Colombia, Latam Economies, Even Without Infections Says Fitch

Sovereign and corporate issuers in Latin America will be adversely affected by slower Chinese demand and commodity price weakness caused by coronavirus due to high commodity export dependence and direct trade exposure to China, says Fitch Ratings.

Posted On February 27, 2020

, By Loren Moss

Photo: Iván Duque Márquez, president of Colombia, briefs reporters during the U.N. General Assembly. (Photo credit: UN Photo/Loey Felipe)

Fitch Ratings Not Impressed With Colombian Government’s Fiscal Strategy

Fitch Ratings released an analysis on Colombia’s tax reforms, stating they will likely signify revenue losses in 2020, underscoring the view that meeting this year’s fiscal deficit target will be challenging and reliant on extraordinary revenues, the ratings firm...

Posted On February 11, 2020

, By Loren Moss

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Fitch: LatAm Sovereigns Vulnerable To Next Downturn

Growth in public debt burdens and fiscal deficits in many Latin American countries over the past decade will undermine the ability of governments to respond to shocks and a sharper than expected global slowdown in 2020, says Fitch Ratings. Weakening fiscal dynamics have been a...

Posted On January 14, 2020

, By Loren Moss

Bogotá, 27/12/2019 Foto: archivo, Nicolás Galeano - Presidencia

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Colombia’s President Signs Fiscal Stimulus Package Into Law

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...

Posted On December 28, 2019

, By Loren Moss

President Duque announces new measures in the low-income Cartagena neighborhood of El Pozón during a Christmas gift handout event. Photo credit: Juan Pablo Bello – Presidencia de la República

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Colombia’s New Minimum Wage For 2020 Rises 6% To $877,803 Pesos Per Month

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...

Posted On December 28, 2019

, By Loren Moss

Carlos Ruiz is the new vice-minister for housing in Minvivienda

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Economist Carlos Alberto Ruiz Appointed Colombia’s Vice Minister of Housing

Minvivienda, Colombia’s ministry of housing has announced that 28 year old macroeconomics profesor Carlos Alberto Ruiz Martinez has been named the vice-minister in charge of housing for Colombia. Ruiz is an economist at Universidad Nacional (National University) and holds a...

Posted On December 23, 2019

, By Loren Moss

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Colombia’s Pension Reform Hampered By Political Tension

According to a new report by Colombia Risk Analysis, the debate underway over pension reform in Colombia is plagued with misinformation and confusion resulting from the current divisive political climate in the country, and conflicting objectives by various political actors....

Posted On December 22, 2019

, By Loren Moss