The exchange rate has been above $ 3,700 for more than six days.
The exchange rate fell $ 22 this Friday and closed at $ 3,709.96. In this way, the dollar in Colombia has been above $ 3,700 for six consecutive days.
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The dollar has stabilized near $ 3,730 in recent days, overcoming the tension that emerged in the markets this month after the withdrawal of the tax reform and the loss of investment grade in Standard & Poor’s.
The country is still waiting for the new tax reform that the Government is building through consensus, and which for now has a collection goal of $ 14 trillion: almost $ 10 trillion less than the previous reform.
There is great pressure to obtain resources, as the government’s fiscal indicators have deteriorated in the last three years.
Since 2018, Colombian debt went from representing 40% of GDP (close to $ 400 trillion), to more than 60% when it stood at $ 616 trillion by 2021. And while the internal debt rose 39% from $ 273 trillion to $ 381 trillion , the external grew 24% in dollars (71% in pesos), going from US $ 48,500 million ($ 137 billion) to US $ 60,000 million ($ 234 billion).
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Discussions of the new tax reform will take place amid a fiscal deficit of more than $ 90 billion. And the new resources will be vital to maintain programs such as Ingreso Solidario, which has a budget until June.
