Tag

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.

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.

In keeping with the recent macro data, consensus estimates on Colombian key economic indicators are continuing to edge higher.

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.

Amidst an environment where we see both analysts and overseas agents increasing their growth recommendations for both 2021 & 2022.

This is a country with problems, unquestionably, poverty has risen, there is discontent with the Government's actions in several respects and the current account situation speaks for itself. BUT, this is a country that for decades has built itself against a backdrop of problems...

Reportedly 100 new ideas have been added to Colombia's second attempt at tax reform this year, and four original provisions have already been axed.

Monday saw the latest surveys released by Fedesarrollo - the Financial Opinion Survey (FOS) & Stock Market Confidence Indices (SMCI) - for the month of June. The overall confidence number stands at 96.97% which is up 5.1% from May - breaking that down we see other improvements.