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Inflation fears kept Colombia's central bankers from reducing the key interest rate, amidst upward wage pressures.

IMF projects Colombia’s GDP growth at 2.5% in 2025; inflation easing to 4.5%, but deficit hits 7.1% and debt peaks at 62.3% by 2027.

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

The suspension is due to the lack of a credible fiscal plan under Colombia's current presidential administration.

Hopefully, Banco de la República will this week cut those overnight rates — by at least 50 basis points — from the current 12.25%.

Fedesarrollo's survey projects March inflation to drop to 7.34% — and continue falling to hit 5.51% by year-end.

While Colombia was not included in the IMF's mid-year reassessment, the organization in April projected the nation's economy to grow by 1.0% in 2023 and 1.9% in 2024.

A Colombian government delegation was in Washington this week meeting with IMF, World Bank and US officials.

The outlook change to negative reflects risks that the economic and fiscal effects of the coronavirus shock, which Moody's identifies as a social risk under its ESG framework, may leave a lasting impact on Colombia's fiscal strength and its overall credit profile.

AM Best has revised its market segment outlook to negative from stable on Colombia’s insurance industry, owing mainly to the COVID-19 pandemic and the resulting economic damage, which will strain the segment considerably. A new Best’s Market Segment Report, titled, “Market...