Oscar Medina

(Bloomberg) -- Colombian President Gustavo Petro promoted deputy finance minister Diego Guevara to fix the most serious fiscal situation his government has yet faced.

Progressive governments in Latin America are doomed to fail unless they ensure macroeconomic stability, according to Colombia’s new finance minister.

Colombia will suspend applications for housing subsidies aimed at helping vulnerable households as problems with the government’s fiscal accounts spill over into social programs.

Colombia suspenderá las solicitudes de subsidios de vivienda destinados a ayudar a los hogares vulnerables, a medida que los problemas con las cuentas fiscales del gobierno se extienden a los programas sociales.

Colombia’s central bank unexpectedly cut interest rates by 25 basis points, less than expected by the nearly all economists, as fiscal concerns outweighed worries about a weakening economy.

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Tanto Colombia como Brasil están dirigidos por presidentes de izquierda con ambiciosas agendas sociales. Ahora, ambas naciones tienen algo más en común: preocupación en el mercado por sus finanzas públicas.

Colombia’s swap rates surged across the curve following a surprisingly large minimum wage increase that added to expectations that the central bank will further slow down the pace of interest rate cuts.

Las tasas swap de Colombia subieron a lo largo de la curva luego de un aumento sorprendentemente grande del salario mínimo que se sumó a las expectativas de que el banco central desacelerará aún más el ritmo de los recortes de las tasas de interés.