Colombia’s Rappi raises over $300 mm in funding round

Colombian all-purpose delivery app Rappi has raised over $300 million in a funding round that saw interest from T. Rowe Price Associates, Inc, among others, the company said on Thursday. Rappi, which operates in nine countries across Latin America, is valued at around $3.5 billion. Its investors include Softbank, Andreesen Horowitz, DST Global, Delivery Hero, Y Combinator and Sequoia Capital.

Colombian debt to rise above 70% of GDP in 2021: Moody’s

The risk rating agency Moody’s Investors Service projects that the debt of the Government of Colombia in 2021 will exceed 70% of GDP. “In Colombia, the affordability of sovereign debt will deteriorate and interest payments as a percentage of public revenues will increase to 12.5% in 2021 from less than 10% in 2015, while the increase in the burden of the debt will be more pronounced between 2019 and 2021, "said the rating agency. The Government believes that the debt will be 64% of GDP.

ESV Resources Enters Into Agreements to Acquire Guia Antigua Silver Project and Zancudo Silver-Gold Project In Colombia.

ESV Resources announced that it will engage in the exploration, development and mining of silver-gold projects and it has entered into letters of intent (LOI) with Gran Colombia Gold and Guia Antigua Vendor to acquire its first two projects, both located in historic mining districts in Colombia. The LOIs include concurrent $7,000,000 equity financing at $0.45 with a lead order from Gran Colombia Gold of - $3,000,000.

Colombia central bank to vote on interest rate, with market split on potential decision

Colombia’s central bank board on Friday will debate whether to continue a cycle of rate cuts meant to boost the coronavirus-battered economy or pause after months of reductions. Analysts surveyed by Reuters said the seven-member board would either reduce borrowing costs to a historic low of 1.75%, or hold steady at 2%.