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Colombia’s Congressional elections this Sunday, March 8 are critical, as they will determine the legislators responsible for shaping the country’s laws over the next four years.

The trade conflict started last month when Ecuador's President Daniel Noboa imposed tariffs as a complaint over Colombia's alleged failure to address security concerns.

Colombian President Gustavo Petro's decreed 23% raise in the country's minimum wage may now be rescinded for failing to follow laws mandating limits for such measures.

A week dominated, or at least that was the perception, by politics.

Though Gustavo Petro and Donald Trump share mutual animosity, FTI's Daniel Giraldo is optimistic about the long term relationship between Colombia and the United States.

Recent board changes consolidate the Petro administration's control of the Ecopetrol board of directors.

The government justifies the move based on a reported deficit of 12% domestic supply meeting producer demand.

The confirmation of a permanent Chief Compliance Officer occurs during a period of heightened legal and political scrutiny for the company.

"An excessive minimum salary increase is a threat on two fronts. It will impact inflation as suppliers face higher costs and also further push that domestic demand."

The complaint says that Colombian president falsely accused his former foreign minister of plotting a coup with US politicians against him.