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Colombian Finance Minister Ricardo Bonilla must be pulling his remaining hair out.

Hopefully, we will get the 1% cut that will add some stimulus to the market.

Once again, we are seeing the lack of a Colombian collective with everyone in it for themselves.

In Colombia, some things are sacrosanct — and the fiscal rule is one of them.

The real headline grabber should be Banco de la República, which — in its infinite wisdom — has chosen to ignore the other 99% who understand that 13.25% overnight rates choke off an economy.

For national unemployment, it is the lowest August since 2016. And for urban unemployment, it is the lowest August — EVER!

Colombia's Finance Ministry and the National Business Association of Colombia (ANDI) have spent weeks and months asking for rate cuts. Will they get what they want?

ANDI) and the Ministerio de Hacienda moved together on this plea — in what is hopefully the start of a more harmonious relationship.

As we could see from the BVC's Twitter account, the Asobolsa event in Cartagena was a day of soundbites and few ideas or solutions.

Banco de la República left rates at 13.25% — no surprise! — and lowered their 1.0% GDP estimate for 2023 to 0.9%.