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Sells Local Bonds, JPMorgan On Credit Rating

COLOMBIA

Colombia central bank to sell 700b pesos in local bonds today.


A tax reform that raises new revenues by 1% of GDP, which is half of what the government has indicated is needed, may allow Colombia to maintain its investment grade rating, economists from JPMorgan wrote in a note.

  • Policy credibility is a strength in Colombia and it will be "the crucial factor on which investment grade is decided"
  • Talk about a tax reform may come in the 2Q after a commission of experts present their recommendations.

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