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"I don't have the slightest doubt that the worst has already passed," said Cárdenas while predicting better economic growth this year than the 2.0% seen in 2016.

The February rate is down from 5.47% in January — and a marked decrease from the 8.97% seen in July 2017.

“We have to wait for the results of the tax reform," analyst Richard Francis told Finance Colombia in New York.

Finance Minister Mauricio Cardenas says the overhaul "is a difficult measure that will require a large sacrifice of all Colombians — but it is necessary."

Interestingly, this loan — for 990 billion Colombian pesos — wasn't due until February 2024.

Parody had taken the lead role in promoting the "Si" campaign to ratify the President Santos' peace deal.

The secretary's mission is to consult with Colombian officials on their plans to maintain strength in public finances in a post-conflict Colombia.

Ecopetrol CEO Juan Carlos Echeverry has called for an "extraordinary" shareholder meeting next month to fill open seats on the oil company's board of directors.

The inflation rate in Colombia has hit yet another 16-year high, rising to 8.97% in July compared to 8.60% in June. Consumer prices jumped much more than expected.

This marks the 11th consecutive month that the Banco de la República has intervened in a fight against an inflation rate that has hit a 16-year high.