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Opposition Calls For Protests Against President Petro's Health Reform

COLOMBIA
  • On Tuesday, President Petro said that he’s preparing a bill to overhaul the pension system, which he said is enriching “two bankers” at the expense of workers, without saying who he was referring to. Adding to the controversial health care bill presented this week, he announced that he will also send to a labor reform to congress.
    • Colombia’s opposition have called for protests against Petro’s health reform proposal on Wednesday.
    • The plan to overhaul Colombian health, pension and labor laws “causes uncertainty that isn’t helpful to the business sector,” Natalia O’Byrne, head of Colombian corporates for Fitch Ratings, said in an interview.
  • Separately, the IMF published a statement on Colombia’s 2023 article IV mission on its website.
    • “Adverse external risks remain elevated, as global financial conditions could tighten more sharply than anticipated with negative knock-on effects on commodity prices, capital outflows, and domestic demand”.
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