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COP Underperforms With Lingering Domestic Pressures

COLOMBIA
  • The Peso firmed slightly on Wednesday but underperformed the region, especially given more buoyant oil prices. Negative sentiment continues to prevail locally as marches were seen, protesting the government's proposed tax reform.
  • Colombian Government Lowers Revenue Target For Proposed Tax Reform (National post)
    • The Colombian Government has adjusted the proposed tax revenue amount lower in an attempt to garner support for the legislation, according to Vice Finance Minister Juan Alberto Londono.
    • The figure now stands between 18-20 trillion Pesos compared to the 23.4 trillion previously proposed. Londono added that it was open to negotiating other parts of the proposal, which includes measures to reduce sales tax exemptions and change income taxes.
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