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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.

This is a country where banks still charge you for the privilege of looking after your money. Dickensian some would say.

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...

As the economy matures and the country becomes more globalized, many Colombians are looking abroad for the sake of diversifying investments, lifestyles, and simply to become more global citizens.

"We have taken the issue of cybersecurity very seriously," said Asobancaria President Santiago Castro.

“Without doubt, his experience will be very valuable in strengthening the association," said Asobancaria.

"More companies in Colombia right now are becoming mutlilatinas," says Carlos Ferrer of Unisys, "and we are identifying many more opportunities to provide those global solutions."

Jaime Peláez of Internexa says "banks have an enormous challenge ahead" to both improve their own security and teach users how to safeguard themselves.

"Not everybody in Colombia has access to the modern economy, and that in itself is an important inequality that needs to be addressed," said Deaton.