Tag

Colombian oil producer Ecopetrol has signed an agreement to purchase the Ministry of Finance & Public Credit's (Minhacienda) share of electrical grid operator Interconectado Eléctrica SA, or ISA.

Ecopetrol reports sales down 23.6% year-on-year for the 4th quarter of 2020, to 14,190 trillion Colombian pesos, or 3.95 billion USD. Full year sales are down 29.4% to 13.8 billion. The company was able to report net income of 1.7 trillion pesos, or $471 million USD.

A 3 judge panel in Colombia's Cundinamarca district court issued an emergency injunction against the $370 million USD loan by the administration of Colombian President Ivan Duque to bankrupt Avianca Airlines, where his sister is a top executive. The lawsuit was filed by a...

Gran Tierra Energy announced that its net loss was $252 million compared with net income of $27 million in the Prior Quarter, due to lower revenues primarily from the collapse in oil price

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.

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.

S&P highlighted Colombia’s “diminished policy flexibility” due to “weakened fiscal and external profiles” in its analysis following the move.

"This is a government of austerity," said Finance Minister Mauricio Cárdenas about a budget that is below the 2017 levels in real terms.