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Despite an increase for the fifth straight month, BBVA analysts caution against an overly optimistic reaction to another minor uptick

Colombia's troubling current account deficit, external debt, and government deficit have led Fitch to assign the country a negative outlook.

Though Bancolombia's recapitalization plan may yield dividends, "Fitch does not expect capitalization to return to levels reported in 2014 during this period."

While the uptick provided much needed revenue for the government, the news isn't so positive outside of the one $2 billion sale of a state-owned utility.

"This is an efficient and innovative initiative that allows Bancolombia to make life easier for its customers," says the bank.

Bancolombia: "The transaction — still pending approval — demonstrates the interest of large global players to get market exposure to Latin America."

The expiration of a contract between Pacific Exploration and Ecopetrol cedes the Canadian firm's 43% stake in the vast Campo Rubiales field to the state-run oil company.

The new fund targets high-risk investors looking to generate returns over the long term through greater exposure to global stock markets.

More than $4.6 billion USD in remittances entered Colombia last year — a 13.3% spike over 2014 and the second largest increase in Latin America.

AmEx says it now has a 10% participation in the market and is looking to double this percentage quickly.