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Sectorially, financials (94.1%) are the top pick followed by Energy (82.4%), while oil has dropped away to 35.3%.

The big question on most investors' lips is 'Does Colombia have inflation under control?'

On the bright side GDP expectations continue to improve. In March the FY2022 consensus is at 4.5%, above the 4.2% of February.

The Peso remains a lottery - with an election in 3 months and the continuing 'red under the bed' narrative.

The sun will rise again. In fact for many it is already showing signs of an appearance and even Colombia still has a story to tell.

It's hard not to be happy when your President announces from Brussels that 2021 growth will be at least 10.2% in 2021

When taken in conjunction with the big decline in Consumer Confidence which was reported a fortnight ago, there are reasons for concern.

There is little question that the country is going in the right direction, even the unemployment data for September was considerably better than expected.

The proposal allocates 209.1 trillion pesos for government operating costs, 2.6% more than this year, while proposed debt payments would rise 1.6% to 71.6 trillion pesos.

Some of this may finally be starting to filter through to both the stock market and Peso - both have outperformed the region over recent sessions.