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Government Upgrade 2021 Economic Growth Projection To 6%

COLOMBIA
  • Colombia's Finance Minister Jose Manuel Restrepo presented the 2021 mid-term fiscal plan.
    • Next year's fiscal deficit forecast at 7% of GDP
    • Fiscal strategy to be "expansionary" in the short term
    • Colombia to begin its fiscal adjustment in 2022
  • Colombia's government also increased its economic growth projection for this year to 6% from 5%, despite recent road blockades connected to anti-government protests that have caused shortages and hit exports.
  • Separately, Colombia's Finance Ministry will offer a new benchmark peso bond due in 2031, according to an emailed statement.
    • New 10-year note, which will replace local bonds due in 2027, will be initially offered in two auctions of 700b pesos each on June 23 and July 14.
    • From July 28 the new bond will be offered alongside notes due 2036 and 2050. (BBG)

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