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Banco de la República left rates at 13.25% — no surprise! — and lowered their 1.0% GDP estimate for 2023 to 0.9%.

President Petro's son, Nicolas Petro, has been arrested. The key here is that the president called for the investigation and has stepped away.

Congress is back (collective groan), and the word "reform" is set to dominate the agenda between now and the arrival of Father Christmas.

Fedesarrollo's consumer confidence data for June offers some encouraging numbers — but there is still a long way to go.

The political scandal that saw President Petro's coalition implode and the de facto suspension of the reform process was little more than a tremor on the Colombian Richter scale. Now the earth is properly moving.

Despite opinion polls declaring we are heading for Armageddon, we see various stakeholders increasing the GDP outlook.

For April, unemployment was 10.7% — down from 11.2% a year ago — and there was a 3.5% increase (785k) in the number of people working year over year

Looking at macro indicators, one is left shaking their head as to what the central bank saw two weeks ago when it raised rates to 13.25%.

Year over year Q1 GDP came in at 3.0% versus a consensus expectation of 3.5%, and the QoQ number of 1.4% actually beat the estimate of 1%.

In the first two months of this year, non-mining exports from that Saudi Arabia reached $26.6 million USD.