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Economic Activity/Trade Balance Data Due

COLOMBIA
  • Local markets return from public holiday
  • Median estimate for August activity currently sees growth of 15.5% y/y versus 14.3% in July. The result would be consistent with month-on-month growth falling from 2.4% in July and 6.1% in June and in line with abating tailwinds from the relief from fewer lockdowns and after protests in May.
  • Separately, Colombia is set to sell green bonds again, just one month after its debut domestic offering.
  • Public Credit director César Arias said in an interview that the government will offer to sell at least 650 billion pesos ($170 million) of green bonds on Oct. 27. Depending on demand, the Government may auction up to 975 billion pesos of the securities and with this second offer it will have completed plans to issue up to 2 trillion pesos in green bonds this year. Auctions will be held again next year in the second half, he said. (BBG)
  • It was an easy call to issue more of the securities given the lower costs for the government and the appeal to foreign investors with a mandate to focus on environmental, social and governance issues, known as ESG, according to Arias.
  • President Iván Duque is in Brazil for an official visit. Today he meets in Brasilia with his counterpart Jair Bolsonaro. U.S. Secretary of State Antony Blinken will be in Bogotá Oct. 20-21.

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