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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.

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.

Replacing César Vallejo, the respected economist Ocampo will be one of the seven board members to vote during the next Banco de la República meeting in March.