Reported 5 months ago
Colombia's bonds and currency experienced a decline following President Gustavo Petro's threat to halt payments if lawmakers do not approve an increase in the nation's debt ceiling. Petro warned of a potential economic emergency if the debt limit is not raised and didn't specify which payments would be affected. Despite the initial market reaction, analysts believe the debt ceiling increase will likely be approved as it has been in previous governments. The peso weakened, and Colombia's dollar bonds also dipped, while Congress is currently discussing a bill to raise the debt ceiling by $17.6 billion.
Source: YAHOO