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There is little question that the country is going in the right direction, even the unemployment data for September was considerably better than expected.

The last few days have featured the 2021 version of the Colombian Investment Summit and there has been plenty to reflect on.

Some of this may finally be starting to filter through to both the stock market and Peso - both have outperformed the region over recent sessions.

Amidst an environment where we see both analysts and overseas agents increasing their growth recommendations for both 2021 & 2022.

The “line in the sand” fiscal rule has now gone but due to the measures taken there is the hope that the deficit will drop from the anticipated 8.6% in 2021 to 2.7% in 2026.

This is a country with problems, unquestionably, poverty has risen, there is discontent with the Government's actions in several respects and the current account situation speaks for itself. BUT, this is a country that for decades has built itself against a backdrop of problems...

Here is hoping that Bogota Metro or Cali Freeway will one day be names we might all buy and sell in the market.

We have seen a slight rebound over recent sessions as the peso recovers from the perfect storm of a lost investment grade, a wobbly oil price and forthcoming elections. Another major factor for the peso will be exports and there was good news on that front for July.

Reportedly 100 new ideas have been added to Colombia's second attempt at tax reform this year, and four original provisions have already been axed.

Another aspect is the normalization tax complementary to income tax. This 17% tax would be reincorporated with the purpose of normalizing omitted assets or nonexistent liabilities, and would be in force for the year 2022. During 2021 an advance payment of 50% must be made.