Irresponsible Debt Spiral

TL;DR

The warning about public debt is a significant political and economic signal, not just a technical financial discussion.
Rising national debt costs are not only deteriorating the state's balance sheet but also constricting its capacity to govern.
The higher cost of money coincides with debt swaps that worsen financing conditions and burden future years.
More budget is being committed to interest payments, reducing the margin for investments that drive growth.
The country is entering a spiral where fiscal imbalances become increasingly expensive.
When debt service consumes a larger portion of total spending, fiscal rigidity becomes a reality, diverting funds from infrastructure, social programs, and development policies.
This substitution of productive spending for financial obligations leads to a silent form of impoverishment in a country with structural deficits and accumulated needs.
Additional pressures like health debts, medication obligations, pending subsidies, judicial rulings, and commitments to victims further strain public finances.
Public finances are losing flexibility due to these competing demands on scarce resources.
Colombia needs a fundamental correction in managing income and expenses to regain credibility and halt the trend of increasingly expensive borrowing.
Continuing on the current path not only makes the present more expensive but also mortgages the state's future.

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