President Juan Manuel Santos said Thursday he expects the international community to donate $3.3 billion to Colombia’s peace process. In an attempt to discard rumors that a pending tax reform is…
Colombia’s fiscal deficit for the 2016 will be wider 3.9% rather than the 3.6% of the country’s GDP announced last year, the country’s finance minister said Wednesday.
Colombia President Juan Manuel Santos on Monday announced his administration has cut this year’s government budget with 3% amid an economic slowdown caused by a drop in global oil prices.
Colombian Finance Minister Mauricio Cardenas cut the government’s oil price forecast, saying this could spell more austerity measures in order to meet the country’s fiscal deficit goal.
The government presented a bill to Congress on Wednesday proposing that the debt ceiling be raised by $13 billion in order to finance social investment projects.
Colombia’s Congress has approved a 215.9 trillion peso ($74.2 billion) budget for 2016, an increase of 2.5% but including a cut to investment that the finance minister characterized as belt-tightening.
Colombia is set to begin a second diplomatic offensive to convince other countries to contribute to peace building in the country that seeks to end a 51-year-long war while dealing…
Colombia’s national government is not reserving the money needed for an effective peace process with the FARC, said an economics expert on Tuesday.
Colombia’s government expects to receive $1.1 billion in oil revenue in 2016, a fraction of the $6.7 billion generated in 2014.