Fitch downgraded Colombia's sovereign rating to BB, citing budget ballooning under President Petro's leftist leadership.

The entities involved

• Gustavo Petro →

  34th President of Colombia since 2022

  • Trump administration is pursuing concrete actions against Nicolás Maduro, including targeting vessels and directing operations to capture him, while also welcoming Gustavo Petro.Fri 17:01
  • The Colombian government filed a surrender law bill, aiming to end the Total Peace policy, with Nicolás Barguil presiding over the Chamber report approval.Tue 21:50
• Colombia →

  country in South America

  • Special Forces conducted counter-narcotics missions in Bolivia, Cambodia, Colombia, and Panama in 2017.Sat 00:29
  • Leading military offensive against organized crime and management of shared border issues between Colombia and Venezuela.Sat 00:09
• Fitch →

  Japanese pornography producer

  • Ueno faces financial scrutiny as senators press the central bank for details, while Fitch issues a rating warning and OTP Bank contributes capital.Fri 23:51
  • Fitch warned of a potential downgrade for New Zealand due to debt and productivity issues, prompting a report to Parliament.Tue 00:47

Related events

• Fiscal policy in Colombia is currently operating under the presidential administration.Aug 18
• The current president, Abelardo de la Espriella, has blamed Congress for budget failures and attributed the deficit to the previous administration of Gustavo Petro.Aug 19
• Abelardo de la Espriella's government filed a budget plan, which Goldman Sachs is monitoring, expecting Congress to dilute the proposal.Fri 13:01
• Bancolombia provided commentary regarding the current fiscal situation in Colombia.Oct 30
• The presidential government of Colombia is currently governing the country.Sep 8