In its latest note published on Wednesday, Fitch Ratings reaffirmed Colombia’s credit rating at BB+ and maintained its stable outlook.
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The decision reflects a history of macroeconomic and financial stability, an independent Bank of the Republic with a mandate to anchor inflation.
The risk rating agency highlights as a positive aspect the country’s institutionality, the acceleration in growth in the short term, the gradual decrease in inflation, Despite the elimination of gasoline subsidies, and the reduction in the current account deficit, which is supported by resilient foreign investment.
(We also recommend: Unemployment in June was 10.3% and completed nine months in double digits).
The rating agency also strongly highlights the ability of the National Government to make spending cuts in order to comply with the fiscal rule and meet previously agreed obligations, despite a situation of reduced income.
The Minister of Finance and Public Credit, Ricardo Bonilla, highlighted that “The rating agency has placed a vote of confidence in the country, highlighting its resilience and history of macroeconomic and fiscal responsibility, highlighting its spending cuts decisions in order to maintain fiscal sustainability”.
BRIEFCASE
