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Users voiced their frustration on Twitter, offering up everything from concerns about security to jokes at the bank's expense.

This marks the second straight month with no intervention, putting a definitive end to the prior 11 months of rate hikes.

The Eastern Perimeter Highway project will expand and improve 154 kilometers of roads as well as build eight small bridges.

"This demonstrates confidence that Grupo Bancolombia and Agrícola has in El Salvador," said Juan Carlos Mora of Grupo Bancolombia.

A drop in inflation was expected — but "its magnitude was much greater than we anticipated," said Bancolombia. A sharp decline in food prices fueled the major rebound.

The 2.0% figure is below the projections of most analysts in what is shaping up to be an even worse year than expected for Colombia's economy.

"If you can find a way to streamline the whole process while providing the same level of security, that’s a win/win," says Eric Crabtree of Unisys.

Brazilian firms took the brunt of the punishment, with 56 domestic corporates getting hit with downgrades last year.

The downgrades for two of Colombia's largest banks come just weeks after a series of negative ratings actions throughout the nation.

The inflation rate in Colombia has hit yet another 16-year high, rising to 8.97% in July compared to 8.60% in June. Consumer prices jumped much more than expected.