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President Petro, Finance Minister Bonilla Due To Speak Today

COLOMBIA
  • President Petro and Finance Minister Bonilla are both set to speak at the close of a banking conference in Cartagena today. Bonilla is scheduled to speak at 2025BST(1525ET), while Petro is expected to speak at 0055BST(1955ET).
  • On the data front, the domestic calendar remains clear today. Next week, May consumer confidence data are due on Tuesday, while May CPI inflation figures are scheduled for Wednesday. Consensus is currently for the headline rate of inflation to remain unchanged at 7.16% y/y, while core inflation moderates further to 7.81% y/y, from 8.19%.
  • Meanwhile, the finance ministry announced last night that it will freeze budget spending on some items due to weak fiscal revenue. The “partial and temporary” freeze will apply to items that do not currently have spending authorisation, according to a statement, while the government’s budgetary and contractual obligations will not be affected.

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