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President Petro's son, Nicolas Petro, has been arrested. The key here is that the president called for the investigation and has stepped away.

In this weekly news roundup, we saw a drop in retail confidence data but an uptick in industrial confidence — another mixed bag.

For April, unemployment was 10.7% — down from 11.2% a year ago — and there was a 3.5% increase (785k) in the number of people working year over year

Year over year Q1 GDP came in at 3.0% versus a consensus expectation of 3.5%, and the QoQ number of 1.4% actually beat the estimate of 1%.

The absolutely key takeaway from these developments is the fact that the institutions of Colombia are holding very firm.

Colombia is very rarely, if ever, bereft of news, and this week was no exception. In fact it was a bit of a doozy!

The oil sector dominated the headlines for a variety of reasons this week…and most of it was good news.

Foreigners now own $26 billion USD in local Colombian debt.

The Peso was badly hit during the holiday period dropping 4.87% to over 5,000 once again...

Looking back on the week several data points were published; none of which were particularly positive.