Colombia's urban jobless rate rose to 15.4% in November, from 10.4% in the same month of 2019, the government statistics agency said on Wednesday, based on surveys in the 13 biggest cities. The national unemployment rate was 13.3%, up from 9.3% a year earlier, the DANE agency said.
The Colombian Ministry of Finance issued a decree that establishes the conditions to issue treasury securities (TES) for $ 11.6 billion to finance the 2021 budget and for $7.6 billion for temporary treasury operations. The first article of Decree 1769 orders the issuance of class B TES for up to $ 11.6 billion in Colombian legal currency to finance the appropriations of the General Budget of the Nation for the fiscal period of 2021. The Finance decree also orders the issuance of TES Class B for up to $ 7.6 billion to finance temporary treasury operations. The term of these debt securities must be greater than 30 calendar days and less than one year. In the 2020 Medium-Term Fiscal Framework, the Government has contemplated emissions of TES for $ 15.6 billion for 2021.
Colombia's inflation in 2020 will hit the lowest level since records began due to the impact of the coronavirus on domestic consumption, a Reuters poll revealed on Wednesday, with analysts forecasting moderate price increases in 2021. Analysts predicted median consumer price increases of 1.45% this year, far below the central bank's targeted 3% and the 3.8% reported in 2019.
In order to finance the "Potable Water and Sanitation Program" in La Guajira region in northern Colombia, the National Government reported that the country is the first to secure a sovereign loan with the IDB (Inter-American Development Bank) in local currency, amounting to $ 53 million. Funds will be used to increase access to and quality of drinking water and basic sanitation services, as well as to improve the management capacity of local providers and support their regionalization process in order to to increase the coverage, quality and continuity of the domestic water supply and sewerage services in that area of the country.
In order to provide ideal mobility conditions for users of the national road network, the National Institute of Roads (Invías) awarded the ITS-VIITS Smart Roads project to Unión Temporal ITS Seguritech for a value of $16.3 million, which will improve road safety and connectivity and that the transport sector generates a lower environmental impact.