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The nonstop three-and-a-half-hour flight departs Colombia's second largest city each day at 12:30 pm local time.

"This equity injection, along with an agreement to rollover bank debt with Bancolombia, have allowed the company to greatly reduce its refinancing risk," stated Fitch.

Although Colombia’s regional elections were more peaceful than those held four years ago, they showed that organized crime continues to be a severe threat to electoral proceedings.

The organized criminal group allegedly killed at least one person and stole nearly half a million dollars worth of cash and valuables. 

The consortium is composed of the companies LTD Sucursal Colombia, Schrader Camargo S.A.S., and Yellow River CO.

This marks the 10th store for PriceSmart in Colombia, which so far is the retailers only South American market.

Óscar de Jesús Hurtado Pérez was appointed to take over as acting mayor until the end of the year.

Medellín has a larger budget than ever before, but it still isn’t enough as stakeholders continue to question how money is managed in the heavily indebted city.

"They position Colombia, the country of beauty, on the world map of tourism," said Arturo Bravo, vice minister of tourism.

With Colombia's third largest mobile carrier in financial turmoil, the radical change was agreed to at the September 13 shareholder meeting.