“Voto-finish”?
COLOMBIA · Report · 12 Jun 2014

The presidential race in Colombia is so close that the most frequent adjective used to describe it is “voto-finish.” There are polls supporting a likely win for either of the two candidates. The crucial issues since the first round have been:1.Support from losing first-round candidates to the rem...

peace talks with ELN might be essential to decide next Sunday's results
COLOMBIA · In Brief · 11 Jun 2014

Yesterday, through a press release, the Government and the National Liberation Army (ELN, for its acronym in Spanish) announced that joint peace talks have formally started, after an exploratory phase that started last year (http://wsp.presidencia.gov.co/Prensa/2014/Junio/Pa...). The ELN was crea...

Zuluaga takes 1st place in first round. There will be a run-off on June 15th
COLOMBIA · In Brief · 25 May 2014

With more than 99% of the votes accounted for, Oscar Ivan Zuluaga captured 29.27% of the votes, while President Santos came in second, with 25.63%. This means, of course, there will be a run-off election on June 15th, three weeks from now. Abstention exceeded 60%. Martha Lucía Ramírez, from the C...

two important milestones for the 4G infrastructure plan
COLOMBIA · In Brief · 22 May 2014

1. The State Council, one of Colombia's high courts, lifted the freeze it had imposed on the process to sell the National Government's stake in Isagén. The new timeline to complete this process will be released by the Ministry of Finance in a very short period of time. The resources resulting fro...

Santos could lose the election
COLOMBIA · In Brief · 15 May 2014

Finally, all the major political polls published their latest results this week. All of them show Mr. Santos losing serious ground to his competitors, but even more worrisome is the fact that many of them show he might very well lose in the run-off too. Even Gallup, probably the most well-conduct...

Colombian Treasury buying dollars to weaken the COP
COLOMBIA · In Brief · 13 May 2014

The Minister of Finance posted a tweet announcing that the Treasury is going to buy USD to weaken the COP. The announcement had an important impact on the fx market today. However, the important question is the Treasury's capacity to intervene. For now, according to the Ministry, excess cash at h...

Resurrections, Alarms, And Scandals
COLOMBIA · Report · 12 May 2014

Executive SummaryWith the June 1 Inauguration Day approaching, President-elect Salvador Sánchez is being forced to face financial realities. Though he’s built bridges with various sectors and laid the groundwork for a favorable domestic climate, recent data make clear that the budget lacks funds,...

Economy Ticking; Politics, Not So Much
COLOMBIA · Report · 14 Apr 2014

Executive SummaryGDP sped up in 2013, to 4.3% from 4% in 2012. Construction, lifted by a government-supported low-income housing program, expanded 9.8%. Agriculture also did well, up 5.2%. Despite mining’s notorious slowdown, it’s still one of the fastest-growing sectors, up 4.9% last year, mainl...

Quarterly Investment Outlook
COLOMBIA · Report · 01 Apr 2014

Executive Summary In this new publication, we provide a macroeconomic outlook and highlight projects the government plans to develop over the coming years. We track planned government expenditure as well as progress in the execution of these plans. In many cases, the government is seeking partner...

High Court suspends Isagén process
COLOMBIA · In Brief · 28 Mar 2014

The State Council, one of Colombia's high courts, ruled in favor of temporarily suspending the process of selling the Nation's stake in Isagén. The ruling invokes the need to carry out a deeper analysis of the implications of the Central Government losing a future stream of dividends. So, even th...

Santos and Peñalosa to the run-off
COLOMBIA · In Brief · 17 Mar 2014 · 7 responses

Datexco published a new poll on March 16th, showing again that President Santos is expected to get the most votes in the May 25th presidential election (25.5%), but not enough to avoid a run-off three weeks later. However, two other results are surprising. The first one is that Enrique Peñalosa s...

A Bit More to the Right, Please…
COLOMBIA · Report · 11 Mar 2014

During the last four years, President Santos has been leaning towards the left, either in his support of center-left parties (Liberals and Cambio Radical), or in the peace negotiations with extreme leftist FARC. All this time, popular support for such political inclination was questionable, since...

Sunday’s Race Matters Most
COLOMBIA · Report · 07 Mar 2014

EXECUTIVE SUMMARY If you’re under 34, middle class and politically unaffiliated, you probably don’t know who to vote for. You belong to a group comprising half of Colombia’s would-be voters. The other half are split between President Juan Manuel Santos and the other candidates. That’s the remarka...

Vargas-Lleras is President Santos' vicepresidential formula for May elections
COLOMBIA · In Brief · 24 Feb 2014

President Santos has just announced that Germán Vargas-Lleras, his former minister of politics (2010-2012) and housing (2012-2013), will be his vice-presidential candidate for next May elections. Even though the announcement does not come as a surprise, it helps Mr. Santos' intentions in more way...

A Concerned Central Bank? Don’t Bet On It
COLOMBIA · Report · 19 Feb 2014

The fact that the exchange rate has depreciated by 5.0% in so far this year has made investors nervous. Although this bears no resemblance to the depreciation rates observed in other emerging countries such as Argentina (23.4%) and Turkey (8.4%), and can easily be interpreted as a catching up of ...