Deputy editor
Jun 10, 2024 – 8:33 am
December 13, 2023 was the last time that the dollar in Colombia was quoted at 4,000 pesos. Since that time, the currency has experienced stability; However, in the last week, The currency has risen 100 pesos and is approaching that barrier, which has the markets on alert.
(See also: Banks would have a new exchange rate: it involves dollar buyers in Colombia)
Among the reasons for Its triggers are the cash crisis that the National Government has and the progress in Congress on the pension reform, who already sees a light at the end of the tunnel. Regarding this panorama, experts consulted in Bloomberg indicated that, if uncertainty with the national budget continues, the rise of the dollar “is just around the corner.”
What will happen to the dollar in Colombia in the face of the economic crisis in the Government
And it is that the Petro Government It was time to tighten your belt. With less collection and more spending, your accounts are out of balance.so a historic cut is coming due to the poor projections they made and which is reflected in the poor growth of the economy, which has only risen by one digit.
“The Government has sent signals of the serious problems that exist in the fiscal deterioration of the country, with the drop in tax collection by Dian and the endorsement of the Minhacienda on what the pension reform would cost”Orlando Jácome, manager of Fénix Valor, said on the portal, who assured that this situation has the markets in fear, which are warning of a crisis.
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On the contrary, Andrés Moreno, an economist at the Universidad del Rosario, says in the aforementioned media that the dollar in Colombia has moved due to internal and external factors, Therefore, in the international context the observations are different: inflation and monetary policy with high interest rates.
“They see a cheap and attractive market to invest in according to their risk profile”said Moreno, who assured that the currency will have volatility to the extent that the world’s central banks lower interest rates and assured that the fiscal deterioration can complicate investor confidence.
Read all the economic news today here.
