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Breaking the fiscal rule without extraordinary cause may risk overspending, mounting debt, and a blow to Colombia’s economic credibility.

After signing a deal with China's Xi Jing Ping, Colombian President Gustavo Petro returned home to bitter defeat of his flagship labor referendum project in the Colombian Senate.

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

The report’s co-author Cameron Wilson took time to speak with Finance Colombia executive editor Loren Moss about the many points covered by the report, including what to expect in the second half of Colombian President Ivan Duque’s term.

This figure is identical to a recent forecast from the central bank and represents an improvement from the disappointing 1.8% registered in 2017.

Though the rating is unchanged from the New York agency’s previous assessment, the status quo represents positive news for a country where economic growth has slowed.

The provision is part of a larger, historic $1.36 billion USD bond that covers seismic risk for all four of the Pacific Alliance nations.

Colombia has previously hosted the event four times over the past six decades, mostly recently in 2009 in Medellín.

The funds will significantly reduce the interest rate of some 77,000 mortgages that officials say will be generated by plan.

President Santos said the goal of the negotiation is “to maintain the income of workers but also to avoid a negative effect" for those who earn the minimum.