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Finance Minister Says Fuel Subsidies Larger Concern Than IMF Debt Renegotiation

COLOMBIA
  • Colombia’s Finance Chief Says Fuel Subsidies Are a Major Concern (BBG)
  • From the Bloomberg article:
    • Colombia’s top finance official said that cutting the high cost of fuel subsidies is a more pressing concern than renegotiating an agreement with the IMF.
    • The debt caused by subsidies is a “much bigger” worry than the nation’s debt with the IMF, Finance Minister Ricardo Bonilla said, speaking on the sidelines of the annual meetings of the IMF Fund and the World Bank Group in Washington D.C.
  • It was reported previously that President Petro had asked Finance Minister Bonilla to meet with the IMF’s Georgieva to discuss payments of the country’s flexible credit line. The government is seeking to ease short-term foreign debt payments to increase public investment and promote economic growth.

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