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President Petro To Address Nation On Independence Day, Markets Closed

  • Local markets will be closed for a holiday on Thursday with President Gustavo Petro expected to address the nation on Independence Day. Additionally Colombia’s Congress begins its legislative period.
  • The resignation of Colombia’s energy minister, Irene Velez, garnered attention on Wednesday. Velez was a staunch environmentalist who opposed new oil exploration contracts. It has not been made immediately clear who might be appointed to replace Velez, although analysts will not be expecting a moderation of the administration’s current energy policy and therefore little impact is expected on short-term political risk premium.

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