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Colombia is in the middle of a national curfew as part of the country’s effort to contain the spread of the Coronavirus COVID-19 Pandemic. With certain exceptions, no one is to leave their homes until April 13, the day after Easter. As is the case around the world, the economic...

While the peace process and divisive politics in Bogotá will be thornier issues, Duque's management of the fiscal deficit will prove tricky even amid rising GDP growth rates.

Political uncertainty due to the upcoming election and challenges adhering to the so-called fiscal rule were cited as reasons for the diminished outlook.

The spending crunch will test the next president of Colombia's "commitment to meet the current fiscal rule's targets."

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

The Japanese rating agency Rating and Investment Inc. (R & I) has upgraded Colombia’s long-term debt rating from BBB- to BBB with a stable outlook. R & I confirmed its confidence in the country’s economic stability in recent years, noting that Colombia recorded real GDP...