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BanRep Governor Villar Remains Committed To Bring CPI Down

COLOMBIA
  • Central Bank Governor Leonardo Villar reiterated the commitment to combat inflation while speaking at the IMF and World Bank Annual Meetings in Marrakech. Villar stated that inflation is still much higher than the target, but it is easing and it will come down to target by end of 2024. Villar stated that the current scenario demands contractionary rates and the bank will do as much as possible to bring CPI down. He stated the economy is behaving relatively well and expects growth of just 1% in 2023.
  • Elsewhere, the second debate of the Health Reform proposal started in the Lower House, of which 30.8% has been approved. Itaú have noted that “the new committee created to review the current proposal highlighted the need to know the fiscal cost of the reform. Moreover, some congressmen are indicating that the project should be revised by the Constitutional Court due to procedural defects, given that the discussion is taking place in the seventh committee, rather than first committee (a requirement for fundamental rights).”
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