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Petro and Biden To Meet, Finance Ministry To Sell Less 1-Year Debt

COLOMBIA
  • President Gustavo Petro will meet with President Joe Biden in the White House to discuss bilateral issues including economic and security cooperation. Furthermore, cocaine, migration and peace talks are expected to be high on the agenda as the nation’s first leftist president, is taking his country in radical new directions in the war on drugs, foreign policy, and its economic model.
  • Separately, the Finance Ministry will cut the amount of one-year debt it sells at auction by 40% to reduce 2024 maturities, according to Public Credit Director Jose Roberto Acosta.
    • The government now plans to offer 150 billion pesos ($33 million) at weekly auctions through the end of June, less than the 250 billion pesos it would normally sell. The government has sufficient liquidity as a result of demand from investors for longer-dated notes and high tax revenue. (BBG)

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