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Trade Balance Data, Ocampo Expects Markets To Calm

COLOMBIA
  • August Trade Balance data is expected at 1600BST/1100ET: M/m, est. -$1.86b, prior -$494.2m
  • Finance Minister Jose Antonio Ocampo spoke to reporters in Bogota on Tuesday evening noting that “we’re going to have responsible macroeconomic policy. We’re going to comply with the fiscal rule. There won’t be any exchange controls. We’re going to diversify exports.”
  • “The topic of oil and gas exploration is one in which we are still doing modelling to see what’s needed on this front, so that the country is guaranteed a good volume of exports and a capacity to maintain a solid balance of payments.”
  • “We expect this commitment to macroeconomic stability is recognized by the markets.”
  • Tuesday and Friday were days of uncertainty, but “we expect that over the coming days the markets start to calm.” (BBG)
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