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The agreement provides Scotiabank with a 20% ownership stake in the newly formed holding company, Davivienda Group.

As part of the deal, Scotiabank takes board seats and a partial interest in Davivienda.

The loan from by the state controlled petroleum company from a Colombian private bank is roughly $180.3 million USD.

Di Marco, an economist from Pontificia Universidad Javeriana, has held CFO and Head of New Businesses roles at RappiPay.

For 2024, Fedesarrollo is projecting GDP growth of 1.4% and a year-end CPI of 5.4%

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

Inflation seeks to be the highest in Colombia since 1999 based on DANE statistics.

CPI may yet go higher, obviously not to those seen on the streets of Caracas or Buenos Aires, but only Chile (13.3%) amongst the mainstream Latam economies has higher inflation.

The Colombian government agreed to purchase 3 million hectares of land from ranchers to boost its agrarian reform in the framework of the Peace Agreement. But this task will most probably be passed to the next governments.

This is inflation week and September CPI is expected to be 0.78% (slowing slightly from 1.02% in August) with the 12m rate rising to 11.29%.