The family that doesn't make ends meet
There are weeks when bad news doesn't come alone. They come in a herd, like the plagues that fell upon Egypt: one after another, without giving time to breathe, without the previous one having finished alarming when the next one arrives. That's what happened last week in economic matters to Colombia.
TL;DR
- Colombia's credit rating has been downgraded by Standard & Poor's, indicating reduced confidence in the government's financial management.
- The Constitutional Court declared the government's third economic emergency illegal, invalidating 11 trillion pesos of planned financing.
- Inflation has reached 5.56% and continues to rise, contradicting claims of price control.
- Ecuador has doubled import tariffs to 100% on Colombian products, severely hindering exports.
- President Petro has criticized the Bank of the Republic's decision to raise interest rates to 11.25% to combat inflation.
- The government plans a third tax reform to raise 16 trillion pesos and is considering a fifth economic emergency.
- The national debt has increased significantly, approaching 1.300 trillion pesos, with interest payments nearly doubling due to perceived macroeconomic mismanagement.