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Finance Minister Says Elections Should Not Be Feared

COLOMBIA
Finance Minister Restrepo on the wires:
  • Colombia 2021 fiscal deficit may be lower than target (BBG)
  • Investors shouldn’t fear Colombia elections (BBG)
  • Colombia will keep its economic model after election (BBG)
  • Restrepo said investors in Colombia who are pricing in high risk from elections this year needn’t worry and says there won’t be a radical change of economic model whoever wins.
  • Moves in financial asset prices were probably exacerbated by recent votes in other Latin American countries, Restrepo said in an interview Thursday. Peru elected a candidate from a socialist party last year, while Chile voted in a former student leader whose coalition includes the communist party. But Colombia, the region’s oldest major democracy, is a separate case, Restrepo said.
  • “Our institutions are much stronger and will preserve the fundamental, democratic values, of free markets, free enterprise that Colombia has always had and will continue to have,” Restrepo said. (BBG)
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