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BanRep Decision Due, Ecopetrol CEO To Step Down

COLOMBIA
  • The central bank is expected to raise its key interest rate 100bps to 13%, according to 16 analysts surveyed by Bloomberg. Nine expect a 75bps increase, while three see a 50bps hike.
  • Ecopetrol’s Felipe Bayon will step down as CEO at the end of March, Colombia’s state-controlled oil company said in a filing Thursday.
    • Bayon, who has been in the role since 2017, is leaving his post amid President Gustavo Petro’s push to transition the country away from fossil fuels. (BBG)

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