Nelson Bocanegra

1 month ago | money.usnews.com | Rodrigo Campos |Nelson Bocanegra

By Rodrigo Campos, Nelson BocanegraNEW YORK/BOGOTA (Reuters) -The International Monetary Fund said on Saturday it had set conditions for Colombia's access to its $8.1-billion Flexible Credit Line, a precautionary tool for crisis prevention and mitigation, effectively cutting access for the country from that cash. Colombia had access to a similar tool since 2009, but only made use of it once in 2020 when the pandemic wreaked havoc on the global economy.

1 month ago | kfgo.com | Nelson Bocanegra

By Nelson Bocanegra(Reuters) – Colombia’s central bank should leave its benchmark interest rate unchanged in its meeting next week, a Reuters poll predicted on Friday, as inflation is expected to remain above target amid global trade uncertainty and weak public finances. Sixteen of 24 analysts polled by Reuters predicted the monetary authority would hold the rate at 9.5%, while six analysts forecast a 25-basis-point cut to 9.25% and two estimated a 50-basis-point cut to 9.0%.

1 month ago | money.usnews.com | Nelson Bocanegra

By Nelson BocanegraBOGOTA (Reuters) - Lower oil prices could reduce Colombian state-run oil firm Ecopetrol's profits by up to 12 trillion pesos ($2.76 billion) this year, the company's president warned on Friday. Ecopetrol may also have to scrap production at some fields and focus on those with lower costs, president Ricardo Roa told journalists on the sidelines of an industry event.

2 months ago | kfgo.com | Nelson Bocanegra

By Nelson BocanegraBogota (Reuters) – Colombia’s new Public Credit director, Javier Cuellar, will seek to renew market confidence, the executive said Monday, amid growing uncertainty stemming from the country’s cloudy fiscal outlook and the recent replacement of its finance minister. Cuellar, who served as president of the National Guarantee Fund, replaced Jose Roberto Acosta as the head of Public Credit earlier this month.

2 months ago | money.usnews.com | Nelson Bocanegra

By Nelson BocanegraBogota (Reuters) - Colombia's new Public Credit director, Javier Cuellar, will seek to renew market confidence, the executive said Monday, amid growing uncertainty stemming from the country's cloudy fiscal outlook and the recent replacement of its finance minister. Cuellar, who served as president of the National Guarantee Fund, replaced Jose Roberto Acosta as the head of Public Credit earlier this month.