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COLOMBIA: Fitch Revises Sovereign Rating Outlook to Negative

COLOMBIA
BulletEM BulletEmerging Market News
  • “Fitch revised the Outlook on Colombia's ratings to Negative from Stable on the deterioration in its fiscal position and uncertain prospects for corrective measures. The central government fiscal balance for 2024 came in at 6.7% of GDP, sharply underperforming Fitch's forecast of 5.6% of GDP, mainly due to revenue shortfalls and an inability to implement offsetting spending cuts.” – Fitch
  • "Fitch believes that fiscal risks are tilted to the downside as the government will continue to struggle to meet fiscal targets and debt to GDP will continue to rise over the forecast period."
    • Full Fitch report here. 
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  • “Fitch revised the Outlook on Colombia's ratings to Negative from Stable on the deterioration in its fiscal position and uncertain prospects for corrective measures. The central government fiscal balance for 2024 came in at 6.7% of GDP, sharply underperforming Fitch's forecast of 5.6% of GDP, mainly due to revenue shortfalls and an inability to implement offsetting spending cuts.” – Fitch
  • "Fitch believes that fiscal risks are tilted to the downside as the government will continue to struggle to meet fiscal targets and debt to GDP will continue to rise over the forecast period."
    • Full Fitch report here.