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Government Seeks Ban On New Coal Contracts, Business Confidence Data Due

COLOMBIA
  • According to text on the Energy and Mines Ministry website, the government is proposing a new bill which would ban new exploration and production contracts for coal. The text of the bill also includes a proposal that would allow the government to expropriate mining assets in some circumstances. The bill hasn’t been sent to congress yet and is currently open for comments.
  • On the data front today, industrial and retail confidence figures for January will cross later. Meanwhile, Finance Minister Ricardo Bonilla will attend a debate in the Senate’s economic committee at 1500GMT (1000ET) about the fiscal costs of the government’s proposed pension and labour reforms.
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