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Coalition Parties Will Not Support Health Reform Bill

COLOMBIA
  • Colombia’s Conservative and U political parties, both of which are part of the government coalition, said in a joint statement that they won’t support President Gustavo Petro’s health bill.
  • The health reform debate was adjourned in the House of Representatives on Tuesday afternoon as congressmen voted in favour of postponing it so that the Ethics Commission can resolve certain issues and challenges.
  • Efrain Cepeda, head of the Conservative Party, said the bill doesn’t incorporate the proposals presented by the parties, according to the statement published on Twitter. The debate is expected to continue today.
  • Markets will closely monitor the government’s response to the possible failure of its plans.
  • Scotiabank have noted that the president’s mishaps appear to be taking a toll on his approval ratings, as 55% now disapprove of his administration according to a Datexco poll (49% disapprove of the health reform vs 39% in favour, and 12% N/A).
  • February trade balance data is scheduled for Friday.
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