Colombia economy expected to fall 9% annually in the third quarter: Central Bank

Colombia's economy is expected to decline 9% annually in the third quarter, less than previous estimates after economic activity picked up once the long quarantine to control the spread of coronavirus was lifted. In July, the central bank forecast GDP would fall 9.7% annually in the three months ended Sept. 30. Colombia endured more than five months of lockdown, which came to a close at the end of August, causing the economy to contract by an historic 15.7% in the second quarter.

Colombia will grant $78.6 mn in credits to energy and gas service providers

Colombia´s Territorial Development Bank (Findeter), with support of the Ministry of Mines and Energy and the Ministry of Finance and Public Credit, launched a rediscount line of credit called Commitment Pspd Energy and Fuel Gas. This measure seeks to benefit official, mixed and private home public service providers of electric power and fuel gas with $78.6 million worth of loans for liquidity and working capital. Funds will allow to finance the deferral of the bills of lower income residential users

Colombian oil production rose by 0.2% in October, the highest since early 2020

The Ministry of Mines and Energy of Colombia announced that national oil production in October reached its best level since the beginning of the coronavirus pandemic, with average daily oil production of 751,100 barrels in October, an increase of close to 2,000 barrels per day when compared with September (749,255 barrels). However, production is still below pre-pandemic levels, which were 796,200 barrels per day.