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February Economic Activity Due At 1700BST

COLOMBIA
  • Trade Minister German Umaña and UAE Minister of State for Foreign Trade Thani Al Zeyoudi will sign a bilateral agreement in Bogota at 1530BST(1030ET) today. On the data front, economic activity is expected to have risen by 1.4% y/y in February, moderating from 1.6% y/y the month before (1700BST/1200ET).
    • Feb. Economic Activity NSA YoY, est. 1.4%, prior 1.6%
  • Yesterday, the Senate approved more articles of the pension reform bill, voting through the proposal for the government to receive 2.3 minimum wages for worker contributions, while private pension fund managers would manage contributions above that. It also approved a proposal to make BanRep the manager of a savings fund that will be used to pay for future retirement compensation. The Senate has now approved 58 of the 94 articles in the bill. Once approved there, the bill will then need to pass two votes in the Lower House.
  • Meanwhile, the latest Invamer poll, published on the Blu Radio website, revealed that 58% of voters are against the reforms proposed by the government, with 56% also against the government’s intervention to private healthcare insurers. President Petro’s disapproval rating rose by 2pp to 60%, while his approval rating dipped 1pp to 34%.

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