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Bond investors and ratings agencies will be watching closely for signs that Carrillo has both the autonomy and acumen to successfully move the company forward while avoiding the political intrigue brewing in Colombia’s second largest city.

Colombia’s President Iván Duque Márquez announced yesterday, from his Twitter account, the appointment of University of Los Andes economist Arturo José Galindo Andrade as the new co-director of the Banco de la República, Colombia’s Central Bank, replacing José Antonio Ocampo. “I...

Colombia’s financial superintendent Jorge Castaño Gutiérrez has appointed the economist Juan Carlos Mendoza as the delegate for the Supervision of Market Risk and Liquidity for Superfinanciera, Colombia’s financial regulatory body. Mendoza worked for more than 10 years in the...

Though Los Andes continues to excel, the nation’s other institutions continue to lag behind many of their regional peers in the rankings.

Within this role, Caballero will be the compliance agent for financial reporting to the Colombian Finance Superintendency.

Bancolombia topped the rankings in 2017, but fell one spot to second place in this year's Merco report.

The former foreign minister of Colombia and outgoing head of the Colombo American Chamber of Commerce brings 35 years of diplomatic experience to Washington.

Mejía, an economist, had been serving as deputy director of DNP and joined the agency in September 2012.

"Colombia has one of the highest seismic hazards in South America," said Victor Roldán of RMS.

While Ecopetrol's long-term foreign-currency IDR was maintained at BBB, its outlook has changed to negative, and the energy giant's long-term local-currency IDR was downgraded one notch.