Moody’s doesn’t fit Petro’s accounts: he doubts compliance with the Fiscal Rule

To the warnings issued by centers of economic thought in Colombia such as Fedesarrollo, the National Association of Financial Institutions (ANIF), and the Autonomous Committee of the Fiscal Rule on the disproportion in the accounts of the National Government, Moody’s is now added, an entity that in its most recent report doubts that this year the Executive complies with the Fiscal Rule. “In our opinion, the weakening of last year’s fiscal positi…

Colombia’s fiscal landscape remains under international magnifying glass. In its most recent report, the Moody’s Ratings qualifier set off the alerts by warning that the fall in tax revenue, combined with growing indebtedness and inflexible spending, is seriously compromising the country’s fiscal stability. In 2024, Colombia raised 14.5 percent of gross domestic product (GDP), a figure less than 16.7 percent achieved in 2023. Although that year …