Moody’s warns Colombia about tax reform withdrawal

Moody has warned Colombia’s credit rating outlook after the government withdrew its tax reform from Congress. According to Renzo Merino, senior vice president and analyst at Moody’s Colombia, this situation increases uncertainty about the government’s ability to consolidate its fiscal balance in the medium term. It also affects other socioeconomic concerns, increasing the need to expand the current budgetary capacity to provide greater social programs to the population. Moody’s said it would reassess some of the items it considered last year to give the current negative outlook for Colombia.

Source: Valoraanalitik