Colombia increases reliance on local debt

Colombia increases reliance on local debt

Capital Markets Economy & Policy Colombia

Colombia wants to place more emphasis on local currency peso-denominated debt amid a year of political transition for the oil-exporting sovereign issuer. In an interview with LatinFinance, Colombia’s Minister of Finance said the ideal composition of the country’s debt was split 70% in pesos and the rest in foreign currency. Mauricio Cárdenas said domestic currency was a more optimal strategy because it protected Colombia from any currency depreciation and drastic changes in external market condi

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