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Colombian President Ivan Duque announced that he was asking Congress to withdraw from consideration his fiscal reform package, brainchild of his Finance Minister Alberto Carrasquilla. The controversial package was put forward to broaden the Colombian government’s revenue base,...

Last night, Aeronáutica Civil (Aerocivil), Colombia’s civil aviation authority announced the temporary closure of the Alfonso Bonilla Aragón International Airport (above) in the Cali suburb of Palmira, leaving passengers stranded both at the airport and at other domestic and...

Firearms and heavy weapons remain exempt from taxation, along with bottled mineral water and most soft drinks. In a “Let them eat cake” moment, Duque’s finance minister Alberto Carrasquilla in an interview defending the tax package, admitted that he had no idea how much basic...

Ahead of the expected presentation of the tax reform to Congress next week, the 'commission of experts' have spoken with their views as to what needs to happen.

Colombia's Central Bank, Finance Ministry, and Financial Regulator met today to discuss the rapidly deteriorating global financial situation fueled by coronavirus, outbreak of petroleum price war, and a falling currency value.

“Colombia's creditworthiness could be pressured” if low growth persists and high fiscal deficits undermine the government’s push to reduce debt.

"There is still a long way to go," says Transparency International.

"This report highlights the challenging environment that Colombian consumers are experiencing," says Bancolombia.

S&P made no changes but suggested it could downgrade Colombia's sovereign rating if the country's fiscal debt burden does not improve within the next 18 months.

Though the increase was welcomed by the government, the 126.7 trillion pesos collected came in below the target of 130.1 trillion pesos.