Colombia received mixed messages from ratings agencies on Thursday, with Moody&#...
BOGOTA - Colombia received mixed messages from ratings agencies on Thursday, with Moody’s revising the country’s sovereign outlook to stable from negative, while Fitch went the other way and adjusted the outlook to negative from stable.
Fitch said risks to fiscal consolidation and the trajectory of government debt, the weakening of fiscal policy credibility, and increasing risk from external imbalances in Latin America’s fourth-largest economy brought on the change. “The international financial markets have confidence in the Colombian economy that is already showing recovery results,” he said.
The economy is expected to recover from 2019 to 2021 with growth in the 3.0% to 3.5% range, converging toward Colombia’s potential growth rate of 3.5%, Moody’s said.
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