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Bond Market News
Colombia’s Finance Minister Signals Fiscal Rule Adjustment Amid Growth Push
June 9, 2025
Colombia’s Finance Minister Avila stated on Friday that strictly adhering to the fiscal rule could ‘paralyze’ the economy and is not a viable option. He indicated the government was ready to increase borrowing to ensure continued economic growth. These remarks follow recent reports about a potential “escape clause” to suspend fiscal rule compliance. Avila believes that rigid compliance would hinder the state and economy. Instead, he proposed a “reasonable, prudent” fiscal adjustment aimed at managing the nation’s debt without disrupting ongoing economic expansion. The fiscal rule has long served as a financial stability measure by limiting government debt accumulation. Concerns regarding Colombia’s growing public debt have been raised by the Central Bank, the IMF and Moody’s.
Its dollar bonds dropped by ~1.5 points across the curve with its 8% 2035s currently trading up at 99.22, yielding 8.11%.
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