Daniel Rodríguez-Delgado (all WHD), Manrique Saenz (SPR), and
Mohamed Afzal Norat (MCM). María Angélica Arbeláez (OED)
participated in most of the meetings. Cristina Barbosa and Andrea
Herrera provided editorial support.
“The affirmation of Colombia’s Baa2 ratings is supported by the government’s track record of prudent macroeconomic management and capacity to build consensus and promote policies that foster economic growth and support fiscal metrics. The stable outlook reflects Moody’s expectation that the fiscal measures approved by the government and the post-pandemic economic recovery will support debt stabilization. The stable outlook also assumes that the next administration will maintain prudent macroeconomic policies.”
Analysts have repeatedly warned that the tax reform will offer only short-term fiscal relief and the next government - set to take office in August 2022 - will face pressure to propose a more structural bill.
The central bank’s technical team last week raised its growth estimate to 8.6% for this year, from a previous 7.5%.fff