Tag

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.

“We are committed to investing in Colombia, a strategic market that represents huge potential,” said Gustavo Marín of First Data.

This marks the 11th consecutive month that the Banco de la República has intervened in a fight against an inflation rate that has hit a 16-year high.

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.