Fitch Ratings has assigned a 'BBB-' rating to Colombia's USD2,0 billion bonds maturing April 22, 2032 and its USD1.0 billion maturing Feb. 22, 2042. As key rating driver, Colombia has an ESG Relevance Score (RS) of '5' for both Political Stability and Rights and for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption, as is the case for all sovereigns, revealed Fitch.
Colombia is trying to make its bond market more enticing for foreigners as it seeks to fund a fiscal deficit swollen by the pandemic, a top Finance Ministry official said. The tax bill sent to congress last week proposes eliminating the 5% tax levied on foreign holders of local peso bonds. This will help the government attract investors to the local debt market, Deputy Finance Minister Juan Pablo Zarate said.
Colombia’s next renewable energy auction will be held no later than October 31, 2021, the Colombian ministry of mines and energy said in a new resolution. The auction will award 15-year power purchase agreements (PPAs) to projects of 5 MW and above, which will have to start delivering the contracted electricity as of December 1, 2022. The current 2,085 MW, capacity falls short of the country’s 2017-2031 plan for the generation and transmission expansion, the ministry said.
Between January and March 2021, foreign direct investment (FDI) grew by 66%, compared to the same period in 2020. So far Colombia has attracted $1.595 billion in 33 new projects. According to ProColombia, technology and communications, agribusiness and renewables energies projects recorded the highest investment.
Yesterday, 549,000 doses of the Pfizer vaccine arrived in Colombia from Belgium. With these, the total number of received vaccines amounts to 5,615,184, informed the national government. This last dispatch comes after a recent shipment delay in the Chinese produced vaccine Sinovac, which has disrupted the vaccination process nationwide, especially in administering the second dose.