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Fitch attributes the move in part to fiscal decisions made by the national government that affect municipalities.

Petro declared a public holiday to boost turnout for protests supporting his reforms, but low numbers and Congress resistance weakened his agenda.

Colombia paradoxically boasts many female executives despite high female unemployment, showcasing talented role models in leadership positions.

The economic committees of both Chambers of the Congress of Colombia voted against the tax reform bill presented by the government of President Gustavo Petro.