IMF Warns Colombia's Fiscal Path Is Unsustainable as Debt Rises

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The International Monetary Fund (IMF) tightened the tone on Colombia's public finances on Friday (16), warning that the country's fiscal situation is unsustainable and requires measures to contain the advance of public debt, which already amounts to about 60% of the Gross Domestic Product (GDP).

France24

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"Colombia's primary deficit is very large. It represents 3.5% of GDP. Debt reaches 60% of GDP and continues to rise. This situation is neither sustainable nor viable," said Nigel Chalk, director of the IMF's Western Hemisphere Department. "We believe that the country must make a concerted effort to reduce its debt," he added during a press conference on the margins of the institution's annual assembly in Bangkok. Nigel Chalk reported that talks …

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The International Monetary Fund (IMF) has warned this Friday that Colombia’s fiscal situation is “unsustainable”, so it has encouraged the government of President Abelardo de la Espriella to ty up the deficit and stabilize public accounts. “This is not a sustainable or viable situation. We believe that the country needs [...] The entry The IMF warns that Colombia’s fiscal crisis is “unsustainable” and asks De la Espriella to solve it first appea…

El Economista

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The agency urged the Colombian government to reduce the deficit and stabilize public finances in the face of the deterioration of the country's accounts.