In April, the president of Colombia, Gustavo Petro, announced that he would seek to renegotiate the debt, assumed during the government of his predecessor Iván Duque (2018-2022).
The Colombian government gave up renegotiating with the International Monetary Fund (IMF) the maturities of a debt of 5.4 billion dollars contracted during the pandemic, the Minister of Finance, Ricardo Bonilla, reported this Thursday, September 26.
«Colombia ratified that we are honoring the commitment to pay the debt. (…) We will finish paying this in 2025,” Bonilla told the media during a visit to New York. as reviewed AFP.
In April, President Gustavo Petro announced that he would seek to renegotiate the debt, assumed during the government of his predecessor Iván Duque (2018-2022) to counteract the effects of the pandemic.
Petro intended to extend the maturities of that liability.
Not having renegotiated the debt “does not mean that we are not entering a space of seeking other types of fresh resources where the International Monetary Fund is a support to find a reduction in interest rates,” Bonilla said.
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Petro assures that the credit assumed by the Duque government is “droking” the country’s finances.
At the end of 2023, the debt of Colombia, the fourth largest economy in Latin America, amounted to around $223.6 billion, equivalent to 52% of GDP, according to the Ministry of Finance.
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