The Colombian government increased its 2009 budget by 2.5 trillion
Colombian pesos ($1.04 billion), a higher deficit as a result of lower
tax collection amid the the economic slowdown, the finance ministry
The government will borrow $704 million from multilaterals and use
COP908 billion from the Treasury to cover the gap, the finance ministry
said in a press release.
Colombia will now borrow $2.65 billion in 2009 from multilaterals, from a previous $1.91 billion expected earlier.