La deuda en Colombia volvió a tiempos de la pandemia y analistas encienden alarmas de cara al futuro

La deuda en Colombia está presionando la crisis fiscal. Foto: Imagen de ChatGPT

La deuda en Colombia volvió a tiempos de la pandemia y analistas encienden alarmas de cara al futuro

TL;DR

  • Public debt service costs have risen significantly, from $1.219 trillion in August 2022 to $1.978 trillion in November 2025.
  • Interest payments on the debt have nearly doubled, increasing from $421 billion to $802 billion in the same period.
  • Colombia's risk premium remains elevated, exceeding pre-pandemic levels, contributing to higher borrowing costs.
  • The cost of debt in pesos has doubled between January 2022 and January 2026, with interest rates on 10-year TES rising from 8.6% to 13.03%.
  • Higher TES rates are translating to increased mortgage rates, affecting housing affordability.
  • Experts argue that the government is not financing itself at lower rates, and the real cost of borrowing is reflected in TES rates.
  • The fiscal deficit is projected to be the highest in Colombia's history.
  • There is an urgent need to rebuild confidence and implement macroprudential policies in economic management to reduce the risk perception.