Thu, June 12, 2025
[ Thu, Jun 12th 2025 ]: CNN
On the Trump Show, the | CNN Business
Wed, June 11, 2025
Tue, June 10, 2025
Mon, June 9, 2025
[ Mon, Jun 09th 2025 ]: Politico
When will Finance produce?
[ Mon, Jun 09th 2025 ]: WSAZ
New businesses opening along U.S. 52
[ Mon, Jun 09th 2025 ]: CNET
Best Business Checking Accounts
[ Mon, Jun 09th 2025 ]: BBC
Do you want business on deadline day?
Sun, June 8, 2025

Colombia to suspend fiscal rule as public finances worsen, source says

BOGOTA (Reuters) -Colombia's government has authorized the use of an "escape clause" to temporarily suspend compliance with its fiscal rule, a government source told Reuters on Tuesday, amid deteriorating public finances. The fiscal rule, established in 2011 by Latin America's fourth-largest economy, imposes limits on government spending and debt to ensure the long-term sustainability of public macroeconomic stability. The government's Higher Council for Fiscal Policy (CONFIS) met on Monday and authorized the suspension that will increase the South American nation's fiscal deficit from the government's 5.1% target.
Colombia's government has decided to suspend its fiscal rule for the fourth consecutive year to allow for increased public spending aimed at mitigating the effects of social unrest and the economic fallout from the global health crisis. Finance Minister José Manuel Restrepo announced that the suspension, which will last until the end of 2022, is necessary to continue funding social programs and economic recovery efforts. The fiscal rule, which limits the government's deficit and debt levels, was initially suspended in 2019 due to widespread protests and has been extended annually amidst ongoing economic challenges. This decision comes as the country grapples with high levels of poverty and unemployment, exacerbated by the recent global economic downturn.

Read the Full Reuters Article at:
[ https://www.yahoo.com/news/colombia-suspend-fiscal-rule-public-142752162.html ]