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COLOMBIA: President Petro’s Disapproval Stays High Amid Tariff Concerns

COLOMBIA
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  • President Petro’s disapproval rating remained high in January, according to LatAm Pulse, a survey conducted by AtlasIntel for Bloomberg News, with 55% of respondents disapproving of him, down 1pp on the previous survey. At the same time, Petro’s approval rating edged up to 42%, from 39% previously. Nearly three-quarters disapprove of the President’s handling of a dispute with President Trump over migrants and 88% fear the effects of tariffs on the economy.
  • No macro data are due today, with attention this week on December trade, retail sales and IP figures on Friday. This will be followed by Q4 GDP next week, where growth is seen edging up slightly to 2.3% y/y. While the growth backdrop remains weak, BanRep recently paused its easing cycle amid a larger-than-expected minimum wage hike and rebound in inflation expectations. BanRep Governor Villar said that a restrictive stance is needed to restore credibility and bring inflation back to target, reiterating that large fiscal imbalances are making it difficult to relax policy.
  • Meanwhile, President Petro makes an official visit to Dubai today, which will run through Feb 12, to participate in the World Government Summit 2025.
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  • President Petro’s disapproval rating remained high in January, according to LatAm Pulse, a survey conducted by AtlasIntel for Bloomberg News, with 55% of respondents disapproving of him, down 1pp on the previous survey. At the same time, Petro’s approval rating edged up to 42%, from 39% previously. Nearly three-quarters disapprove of the President’s handling of a dispute with President Trump over migrants and 88% fear the effects of tariffs on the economy.
  • No macro data are due today, with attention this week on December trade, retail sales and IP figures on Friday. This will be followed by Q4 GDP next week, where growth is seen edging up slightly to 2.3% y/y. While the growth backdrop remains weak, BanRep recently paused its easing cycle amid a larger-than-expected minimum wage hike and rebound in inflation expectations. BanRep Governor Villar said that a restrictive stance is needed to restore credibility and bring inflation back to target, reiterating that large fiscal imbalances are making it difficult to relax policy.
  • Meanwhile, President Petro makes an official visit to Dubai today, which will run through Feb 12, to participate in the World Government Summit 2025.