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Here in Colombia the market has been crying out for new blood, we have seen multiple names such as Tablemac delist, others including Éxito who are no longer part of the MSCI COLCAP and recently Avianca which has been put on the naughty step due to Chapter 11.

All three agencies said publicly many months ago that they were looking for the tax reform to right the fiscal ship which has been listing badly ever since COVID struck - to put it bluntly, the authorities have failed to deliver - and it is on them.

City council member Daniel Carvalho has said enough is enough, and that the mayor’s mismanagement is putting Colombia’s second largest enterprise and Medellín’s single largest municipal revenue source at grave risk.

S&P says it may downgrade these companies in case of a similar rating action on Colombia. The firm could lower the sovereign ratings if the potential long-term damage caused by the pandemic, other domestic developments, or new external shocks, prevent the Colombian economy from...

The big question is what Fitch (BBB-) & Moody's (Baa2) chose to now do. Will they wait to see what is contained within 'Tax Reform II' when it is resubmitted? The issue is that there is little clarity on when that will be. Congress will shut down for the holidays in just over a...

Colombian President Ivan Duque's withdrawal of his controversial tax hikes were not enough to stop nationwide protests in Colombia. The reason the protests continue vary, with much legitimate discontent and dissatisfaction, but provocateurs and common criminality must also be...

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.