INSUBCONTINENT EXCLUSIVE:
The Colombian peso recently declined, breaking past the COP$4,000 mark against the U.S
dollar for the first time in 2024.It escalated to a high of COP$4,049, marking a significant increase from its opening price this year.The
It briefly dipped to COP$3,970 before soaring again.Experts warn that government budget cuts meant to show fiscal responsibility have
This is due to a substantial fiscal deficit exceeding COP$25 trillion.Finance Minister Ricardo Bonilla announced a significant COP$20
trillion cut in the national budget
He requested a 5.6% reduction from all government departments.Colombian Peso Hits New Low: Surpasses COP$4,000 Against Dollar
(Photo Internet reproduction)He stressed the necessity for precise cut details to facilitate the fiscal adjustment process in collaboration
adding to the economic pressures.The upcoming U.S
Federal Reserve meeting and its decisions on interest rates are highly anticipated and are contributing to the financial uncertainty
the broader economic landscape in Colombia, influencing inflation and the cost of imports.The weakening peso underscores the challenges and
the need for careful economic management and planning in response to both local and global financial conditions.This situation is pivotal
