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"This is a government of austerity," said Finance Minister Mauricio Cárdenas about a budget that is below the 2017 levels in real terms.

"We will continue to reduce spending with the objective of hitting fiscal targets and reinforcing our country’s BBB rating,” said Mauricio Cárdenas.

Because the nation generates around two-thirds of its energy through hydropower, the required emissions cut should be less daunting for Colombia than many other countries.

After a series of fits and stops that threatened to derail a historic year, Colombia may finally be peace.

Yesterday, President Juan Manuel Santos, along with Finance Minister Mauricio Cardenas and Labor Minister Luis Eduardo Garzón, signed into law Decreto (Decree) 2552 of 2015, setting the Colombian monthly minimum wage at $689,455 pesos. This power was given to the executive branch...