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.
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 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.
Through a Dutch auction, Cementos Argos issued ordinary bonds for $69 million on the Colombian Stock Exchange (BVC). The rate of these titles is 2.24% effective per year. This is the second issue of the Cementos Argos common bond and commercial paper issuance and placement program, whose total quota is $276 million.
Colombia’s government will extend its health state of emergency by three months. President Duque urged people to avoid crowds and keep up safety measures to contain the spread of the novel coronavirus. The Andean country has had over 1.27 million confirmed cases of coronavirus and nearly 36,000 deaths. Active cases number 57,260.
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.