Colombia's economy will expand more than 8.5% this year as the country rebounds from the coronavirus pandemic, the finance minister said early on Friday, and will have a deficit of less than 8.6%.
Ecuador will seek to return to the international capital market and is working to regain its credibility after restructuring its sovereign bonds, Economy and Finance Minister Simon Cueva said on Friday.
Ecuador will seek to return to the international capital market and is working to regain its credibility after restructuring its sovereign bonds, Economy and Finance Minister Simon Cueva said on Friday.
Peru has once again put in place ceilings on public spending and debt after lifting them during the pandemic, the economy ministry said in a notice published in the country's official gazette on Saturday.
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BOGOTA, May 20 (Reuters) - Colombia’s peso currency and main stock index fell significantly in opening trading on Thursday after S&P Global Ratings downgraded the Andean country’s credit rating.
The agency lowered its long-term foreign currency rating on Colombia to BB-plus from BBB-minus on Wednesday, saying it believes the country’s fiscal adjustment will be more protracted and gradual than previously expected. It added that its outlook on the country is stable.
The peso fell 1.55% to 3,742 pesos per dollar, while the country’s main stock index COLCAP fell 2.18% to 1,238.11 points.
“We anticipated a negative price reaction in the Colombian financial markets today, but we think it will be of short duration,” said Andres Pardo, chief of Latin America strategy for XP Investments, citing a long-time expectation the country would lose investment grade.