Colombia slaps $940K fine on ‘cattle cartel’
Colombia will impose a $940,000 (COP2.7 billion) fine on the so-called “Cattle Cartel” for price fixing across the country, the country’s business intendent said Tuesday. The penalty is for livestock…
Economy
Colombia’s exports dropped another 13% in 2016
Colombia’s exports dropped 13% in 2016 in spite of a minor increase in exports to its biggest trade partner, the United States, for the first time since the two countries signed a…
Japanese bank pulls financing from Odebrecht’s Colombia river project
Japan’s Sumitomo Mitsui bank has pulled $250 million in financing from Colombia’s Magdalena River navigability project, as majority stakeholder Odebrecht faces corruption charges, the Colombian government said on Tuesday. Odebrecht…
Colombia’s businesses have become numb to corruption: poll
A poll conducted among businessmen by the national businesses association ANDI concluded that there is widespread acceptance towards government corruption in Colombia. According to the poll, almost 71% of the 89…
Bombings halt pumping at Colombia’s Caño-Limon oil pipeline
Bomb attacks last week halted pumping operations along Colombia’s second most important oil pipeline, the Caño-Limon Coveñas, state oil company Ecopetrol said on Sunday. The company did not say who…
Colombia’s external debt at 40% of GDP: report
Colombia’s foreign debt reached $116 billion in October, equivalent to 40% of the country’s GDP, according to a report published Wednesday by the country’s state-run central bank. As of 2015,…
Colombia’s economic growth for 2017 projected at 2.5%: World Bank
The World Bank projected economic growth at 2.5% for Colombia in 2017 in its semi-annual Global Economic Prospects report released last week. The projection is over double the 1.2% growth…
Colombia’s 2016 inflation rate at 5.75%, misses government target
Colombia’s 2016 inflation was set at 5.75% by the country’s national Central Bank, missing the government-set target for the year but still down from the inflation recorded in 2015. At the beginning of…
Colombia’s tax reform fails to tackle tax evasion: chief prosecutor
Colombia’s chief prosecutor slammed a tax reform on Monday, the day it took effect, claiming the new tax system fails to confront the mass tax evasion that has long undermined the country’s fiscal system. Prosecutor…