Colombian central national government debt reached 61% of GDP in October

The total debt of the central national government (GNC) stood at 61.4% of GDP projected for this year, according to information from the Colombian Ministry of Finance for the month of October. Of this amount, 23.1% of GDP corresponds to external debt and 38% of GDP to internal debt."The total balance of Colombian debt in foreign currency in October was $ 160,893 million, while in local currency the total debt of the GNC amounts to $171 billion.

Colombia’s EPM to spend $5.3bn in 2021

Empresas Públicas de Medellín (EPM), Colombia's largest multi-utility, has unveiled a record 2021 budget of $5.3 billion, a 13% increase on the company's 2020 spending plan. $2.43 billion will be destined for operating expenses, $1.8 bn pesos for investments, $940 million for debt servicing and $82 mn for cash availability. Capital expenditure is expected to reach $1.4 bn, or 27% of the total budget.

Colombia bets on $20bn infrastructure plan to boost economy

Colombia is betting on 79 infrastructure projects worth $20 billion to boost the economy over the next decade. Of the total, 40 projects are expected to be finished by 2022. A key objective of this plan is to maintain an average infrastructure investment level equivalent to at least 3% of GDP until 2030. Another goal is to reduce logistics costs from 13.5% of all sales to 9% by 2030. Of the total investment, $4.1 billion will go to the remainder of the 4G highways program.

After 80-day strike, Cerrejon and union to hold technical talks on proposed work schedule

Colombian coal miner Cerrejon and its largest workers union will hold technical talks about a controversial proposed work schedule, so contract talks can move on to other issues behind a more than 80-day strike. The strike began on August 31 after Cerrejon and union Sintracarbon were unable to reach agreements over pay rises, as well as health, education and living benefits for workers. Cerrejon is owned equally by mining heavyweights BHP Group, Anglo American and Glencore.