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

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.

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[ https://www.yahoo.com/news/colombia-suspend-fiscal-rule-public-142752162.html ]