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Fitch Says Colombia Has a Way to Go to Emerge From Junk Status

COLOMBIA
  • Colombia is unlikely to recover its investment-grade credit rating in the near term given its persistent high debt and deficits, according to Fitch Ratings.
  • “In the short term, it’s not likely,” Fitch analyst Richard Francis said Friday in a video interview. “There’s a lot of uncertainty about how far the deficit will go down next year.”
  • Francis says strong growth and a clear path back toward levels around 55% of GDP are key for Colombia to get upgraded, or to at least have a positive outlook. A nation takes on average seven years to regain investment grade after it losing it, he said. (BBG)
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