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Sura Says Tax Plan May Almost Kill Stock Market

COLOMBIA

From the Bloomberg article:

  • The plan by Colombia’s new leftist government to more than triple the tax on dividends may virtually kill off its small stock market, according to one of the nation’s biggest investors.
  • “There’s a significant risk that the equity market will practically disappear,” said Ricardo Jaramillo, vice president of Business Development and Finance at Grupo de Inversiones Suramericana SA, a conglomerate which includes a pension fund manager. Jaramillo spoke Wednesday in a video interview alongside CEO Gonzalo Perez.
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