Colombian central bank maintains interest rates at 1.75%; sets 2021 inflation at 3%

The Board of Directors of the Banco de la República unanimously decided to maintain its interest rate at 1.75%, with which the indicator completes two consecutive months without changes. Although inflation expectations for this year remain below 2%, in 2021 a growth in the cost of living of Colombians is expected close to 3%, which is the goal of Banco de la República.

Colombia commits to reducing greenhouse gas emissions by 51% by 2030

President Iván Duque announced that Colombia, by 2030, expects to reduce greenhouse gas emissions by 51%. The strategy to reduce greenhouse gases is part of the Nationally Determined Contribution of the Government of Colombia for the period 2020-2030 to comply with the Paris Agreement. This plan incorporates two other components: adaptation to climate change and low-carbon development.