After two years of uncertainty and complex political, economic, and social processes, indicators show the first results of economic reactivation under President Gustavo Petro’s government. The Colombian economy grew by 3.68% in July 2024 compared to the same month of the previous year, according to the Economic Monitoring Index (ISE) from DANE. This growth marks […]

The National Administrative Department of Statistics (DANE) has presented its report on Monetary Poverty in Colombia during 2023, revealing significant progress in reducing poverty in the country. Below, we break down the main results and figures showing how more than 1.6 million people have managed to escape monetary poverty in the past year. General Reduction […]

In April 2024, the Colombian economy registered a notable growth of 5.5%, according to the recent report from the National Administrative Department of Statistics (Dane). This increase is mainly attributed to the dynamism of the agricultural and mining sectors. After two years of uncertainty caused by the ambitious reindustrialization and decarbonization plan defined in the [...]

If, from a place of ignorance, we quickly survey the dominant Colombian media, it’s easy and almost inevitable to conclude that Colombia is undergoing a Petrocalypse. Everything is going wrong; nothing can go right. The “pink” romantic progressive left, the politics of Love and Total Peace promoted by Gustavo Petro, has spectacularly failed in its […]

On April 23, 2024, Colombia and the United Kingdom signed a strategic agreement known as the Energy Transition Action Plan (ETAP). This pact aims to promote the development of renewable energy sources and facilitate a sustainable energy transition in Colombia. The collaboration brings together a diversity of low-carbon technologies and projects aimed at reducing dependence […]

In another historic event for the bilateral relations between Colombia and the United Arab Emirates, both countries have signed the Comprehensive Economic Partnership Agreement (CEPA), the first of its kind that Colombia has signed with an Arab country. The Minister of Commerce, Industry and Tourism of Colombia, Germán Umaña Mendoza, and his Emirati counterpart, Thani […]

One of the main promises of President Gustavo Petro, is to design policies directed at attracting investments in other productive activities, not related to the extractive industry, like oil and mining. So it’s no accident to see, the tendency registered after one year of government is promising, where some Colombian industries evidenced a notable advance […]

Dubai-based airline Emirates has announced its intention to launch flights to Bogotá, Colombia, via Miami starting in June 2024. This announcement marks a significant moment in Colombian aviation as the Civil Aviation Authority of Colombia (Aerocivil) is expected to initiate an approval process for this new route. Emirates’ proposal to operate the route with Boeing […]

Recent reports from respected global media outlets, such as The New York Times, indicate that the Panama Canal is experiencing a drought that has significantly impacted transoceanic trade. This situation has prompted the Colombian government, led by President Gustavo Petro, to reconsider an idea proposed several years ago by engineers: the creation of a "bypass" [...]

The world is burning, metaphorically and literally, and it's a stark reality that stretches across the equator. NASA satellite images confirm it: an alarming volume of wildfires is devastating our planet, and Colombia is no exception. Here, in our capital Bogota, we can all see the wildfires in our surrounding hills and witness how the [...]

At the beginning of 2023, global and regional economic forecasts were quite bleak, especially for Colombia, which had just elected its first progressive left-wing government. However, recent figures from DANE indicate that Colombia managed to navigate through 2023, keeping the economy running during the first full year of the new government. Colombia's economic growth in [...]

It is difficult to even imagine a complete cultural change in Colombia, let alone believe that someday there will be a total cultural change in Colombia, magically turning us into a tolerant, rational country capable of collective compassion, which would benefit us greatly. However, if this much-needed cultural change is to begin in any way, […]

In Colombia, the term “Drop-by-Drop” (Gota-a-Gota) is omnipresent and carries a dark connotation. This illegal industry of informal credits, often resorted to by the poorest, is regulated through violence and has become one of the business axes of mafias in all regions of the country. In contrast, the Grameen Bank, known as the bank for […]

It was a crazy year the 2023. Globally, we’re witnessing a pole shift. Regionally, major changes are happening every few months. And in Colombia, the uncertainty is almost palpable. After fifteen months of the new progressive government, a lot of things are being said about the future of the country. Media and traditional powers are […]

Amidst a rapidly transforming global geopolitical landscape, Colombia faces significant economic challenges, characterized by low value-added generation and poor productivity performance. In recent decades, the country has experienced a setback in its industrial sector and a very incipient development in services based on innovation and knowledge. This situation is exacerbated by the high dependence on […]

In a historic event for bilateral relations, Colombia and the European Union have announced the start of negotiations for the signing of a Collaboration and Cooperation Agreement. This bilateral political agreement promotes diplomatic relations to the level of a Strategic Alliance, marking a milestone in Colombian foreign policy. This process demonstrates the recognition of the […]

Fitch Ratings has reaffirmed Colombia’s long-term foreign currency debt rating at ‘BB+’, with a stable outlook. This announcement, made on December 7, 2023, reflects the strength of Colombia’s credit fundamentals, characterized by a history of macroeconomic and financial stability. Despite ongoing fiscal challenges and dependence on commodities, Colombia maintains an environment conducive to investment. The […]

One of the phrases that President Petro has repeated on several occasions is that “in Colombia, the government is not the same as power.” Power is held by a small group of companies and corporations for several decades now. And that small group of people who concentrate power and wealth in Colombia have last names […]

For 28 years, Colombia has been expressing its interest in joining the Asia-Pacific Economic Cooperation Forum (APEC). Despite repeated requests, the response had always been ignored until this year. In an unexpected turn, President Gustavo Petro was invited at the last minute to the APEC summit held in San Francisco, marking a significant diplomatic advance. […]

In an unexpected decision that went unnoticed in Colombian media, the Chinese pharmaceutical company Sinovac changed its initial plans to establish a new plant in Latin America in the city of Antofagasta, Chile. In this article, we explore the reasons that led Sinovac to choose Colombia over Chile and analyze the implications this may have […]

The last two weeks have demonstrated a remarkable shift in Colombian diplomacy under President Gustavo Petro. The nation has been at the forefront of interactions with the world’s leading powers, China and the USA, showcasing a strategic balancing act in global geopolitics. Multiple Agreements for Large Scale Cooperation with China In an official visit to […]

On October 25, 2023, in the Chinese capital city of Beijing, Colombian President Gustavo Francisco Petro Urrego and Chinese President Xi Jinping held several transformative discussions, aiming at solidifying the bilateral ties between their respective nations. The event marked a significant milestone in Colombia-China relations, symbolizing not just an extension of partnership but also a […]

In the dynamic setting of international relations, bilateral discussions between world leaders can establish new directions and meaningful shifts in the economic and political sphere. The recent trip of Gustavo Petro, President of Colombia, to the People’s Republic of China is a testament to the expectations and opportunities underlying the strengthening of ties between Latin […]

On October 18th, a landmark decision was made by the Biden administration: a temporary relief from sanctions on Venezuela’s oil, gold, and gas sectors. This decision, which will last at least six months, was a response to an agreement on Venezuela’s 2024 presidential elections, where the Venezuelan government and opposition reached consensus to include international […]

2023 will not be remembered as a standout year for the economy, neither Colombian nor global. However, Colombia sees hope on the horizon. Despite pessimistic forecasts from political factions opposed to the reformist policies of the new government, the International Monetary Fund (IMF) has positively updated its estimates. It now predicts that the Colombian economy […]

In a significant boost to the Colombian economy, exports to Mexico for the first half of 2023 recorded an impressive figure of USD 999.02 million. This marks a 26.13% surge in comparison to the same period in 2022 when the trade volume stood at USD 792.08 million. Delving deeper into the specifics, the non-mining and […]

Colombia, after dialogues with several major global economies, now turns its gaze eastward to China. With Gustavo Petro at the helm, the nation is carving a niche for itself on the international stage, representing the ambitions and aspirations of the Global South. The ultimate aim? To chart a course brimming with sustainable progress and innovation. […]

Renault takes a bold step by investing $100 million in Colombia, announcing that its popular Kwid model will be assembled in the South American nation. As the automotive industry becomes more competitive in Latin America, automotive giants are looking at Colombia as a potential production and export hub. Renault invests in Colombia’s future Automotive giant […]

Careful Evaluation of the First 10 Years of the FTA with the United States Colombia has reached the eleventh anniversary of its Free Trade Agreement (FTA) with the United States, and the balance is the subject of intense debate. Two articles from respected sources, one from Cedetrabajo and another from Razón Pública, offer contrasting perspectives […]

The Vice President of Colombia, Francia Márquez, recently unveiled the program ‘She Exports to Africa’, a collaboration between the Colombian government and the Women Entrepreneur Fund. This initiative aims to boost the country’s exports to the African continent while simultaneously strengthening the economic autonomy of Colombian women. With enthusiasm, Márquez stated that 30 businesswomen from […]

The latest edition of the Common Finance Summit (FiCS) held in Cartagena, Colombia, from September 4th to 6th, provided a platform for global financial leaders to express their commitment and strategies for sustainable development in Latin America, with a special focus on Colombia. During the summit, Werner Hoyer, president of the European Investment Bank (EIB), […]

When reflecting on the prolonged internal conflict in Colombia, many tend to think that drug trafficking is at the core of the issue. However, the most significant reason lies even deeper and is rooted in Colombian history: land ownership. Colombia, like other Latin American countries, has practically functioned as a feudal system. This situation has […]

Much speculation surrounded the ideological shift that the economic policy of the new Colombian government might undertake. Some mentioned socialism and communism. However, after a year of the new administration, it’s clear today that the guidelines being pursued in Colombia can be defined more as green capitalism, driven by a new coalition with progressive tendencies. […]

Despite the political and social challenges it has faced, Colombia stands out as one of the most attractive tourist destinations in Latin America. According to a recent study by OBS Business School, Colombia is among the three countries in the region that have experienced a significant increase in international tourism following the pandemic. Although the […]

On Thursday, August 10, 2023, a historic moment was marked in the relations between Switzerland and Colombia. The President of the Swiss Confederation, Alain Berset, met with Colombian President Gustavo Petro, strengthening the close ties between the two nations and designating Colombia as a priority ally for Switzerland. A Relationship Focused on Peace, Humanitarian Aid, […]

A landmark trade mission is set to unfold as 20 Black entrepreneurs from metro Atlanta prepare to travel to Colombia next week. This initiative, announced on Tuesday, marks the first of its kind, focusing specifically on Afro-descendant business leaders and entrepreneurs. The selected individuals for the mission are members of the Atlanta Black Chambers and […]

On July 31, 2023, President Gustavo Petro signed a decree declaring free access to all undergraduate programs in public universities in Colombia. This Law 2307 will need to be regulated by the Ministry of Education within a maximum period of six months and will be implemented progressively, taking into account the annual budget availability. The […]

It may seem like a conversation from the 20th century, but for several reasons, the development of railway networks in Colombia has always been quite limited. With only 3,000 km of railway built, of which only a quarter is functional and with very limited usage mainly as a tourist attraction for locals who have never […]

Colombia’s economy has shown promising signs of recovery as the country witnessed a significant improvement in its employment rate. According to the latest report by the National Administrative Department of Statistics (Dane), nearly 400,000 people secured employment in the past few months. This surge in job creation highlights the Colombian economy’s resilience and paves the […]

Colombia’s economic landscape is experiencing a significant upswing as it welcomes a surge in Foreign Direct Investment (FDI). According to recent reports from the Central Bank, June 2023 witnessed an exceptional inflow of FDI, reaching an impressive milestone in the country’s history. With an increase of $754 million compared to May 2023, the total FDI […]

In the world of finance, currency fluctuations can have a significant impact on a country’s economy. Over the past year, the Colombian Peso (COP) faced a major challenge when it surpassed the barrier of 5,100 pesos against the US dollar, causing concern in various sectors. However, in a surprising turn of events, the Colombian peso […]

The proposal to restructure the global financial system by exchanging foreign debt for climate action is gaining traction among key players. Colombian President Gustavo Petro’s idea has caught the attention of the European Union (EU), International Monetary Fund (IMF), and the United States, with a willingness to explore and discuss its potential. This blog post […]

Back in the 2022 presidential campaign, numerous rumors flooded the media, suggesting that Colombia was on the verge of being taken over by socialism, Marxism, and the so-called Castro-Chavismo if the leftist and progressive candidate Gustavo Petro won. However, today, 11 months after taking office, the reality is quite different. We can now confidently state [...]

The French government has decided to finance a portion of Colombia’s agrarian reform through donations, endorsing the Peace Total policy. During a recent bilateral meeting, President Gustavo Petro highlighted the commitment expressed by his counterpart, Emmanuel Macron, in Paris, France. President Petro stated that France will contribute to the agrarian reform through donations as the […]

In the past two years, Swedish companies have shown a growing interest in Colombia as an investment destination. About 100 Swedish companies have established a presence in the country across various sectors ranging from fashion to vehicles. Notably, these companies have invested a total of $1.7 billion, approximately 10% of the foreign direct investment received […]

During the recent visit of the Colombian government’s presidential delegation, led by President Gustavo Petro and Chancellor Alvaro Leyva, to Germany, a series of cooperation agreements were signed. Among them, a Memorandum of Understanding between both nations stands out, aiming to explore and exploit the industrialization of this renewable energy in order for Germany to […]

On April 17th, Colombia and the United States took a historic step by signing a Mutual Recognition Agreement (MRA) between their respective Authorized Economic Operator (AEO) programs in Colombia and the Customs Trade Partnership Against Terrorism (CTPAT) in the United States. This agreement, which was signed in record time according to the National Association of […]

Colombia continues to attract the attention of significant global economic players. After countries such as Germany, England, and Spain expressed their interest in investing in the South American country, China, the Asian giant, now joins in with its commitment to the major infrastructure projects that Colombia needs to boost its productivity and competitiveness. In a [...]

Colombia is experiencing significant growth in Foreign Direct Investment (FDI), setting a new historical record in April 2023. According to data from the Banco de la República, the country attracted close to US$1.951 billion in foreign investment during this month. This impressive amount, which surpasses the US$879 million recorded in March of the same year, [...]

A new era for diplomacy and commerce between Colombia and Africa has begun Despite the unfortunate bias reflected in some Colombian private media, casting a negative shadow on Vice President Francia Marquez's Diplomatic Tour of Africa, a closer look reveals why this official visit has been an astute strategic move. The reluctance of Colombia to [...]

Tourism, a critical industry for many economies worldwide, has experienced a significant resurgence in 2023, specifically in Colombia. Foreign tourism in the country has seen an impressive 47% spike in the first quarter of this year. This data, provided by the main Colombian authority in tourism, Anato (National Association of Travel Agencies), underscores the steady [...]

Spain Announces 1,000 Million Euros for Cooperation with Colombia On May 3, 2023, the only state visit Spain organized this year took place, during which Colombian President Gustavo Petro and his entourage, including Minister of Commerce Germán Umaña and Minister of Mines and Energy Irene Vélez, were received. The visit was described as "extraordinarily positive" [...]

Airbus, the airplane manufacturing company, has recently announced an agreement with the Colombian Government to develop "aeroparts" for aerial vehicles, with an approximate investment of US$329 million. The signing of the agreement will take place in Spain, with the presence of the Colombian President, Gustavo Petro. Germán Umaña, Minister of Industry and Commerce, stated that [...]

The Danish Ambassador in Colombia recently highlighted the great potential that the South American country has for the production of renewable energy in an interview with the newspaper La República. The Danish diplomat emphasized Colombia's ability to become a global power in the generation of clean energy, comparing it to Saudi Arabia in terms of [...]

During his trip to the United States in April 2023, Colombian Minister of Economy, José Antonio Ocampo, held a series of meetings with rating agencies and international organizations in an effort to recover the country's investment grade. Recently, the minister expressed his optimism on María Jimena Duzán's podcast, highlighting very positive and promising results from [...]

Not long ago, imagining a Colombian president going to the UN or to Washington to talk about a new drug policy, energy transition, reducing sanctions on Venezuela, and even a new economic model for the world, where to begin, debt could be exchanged for climate action so that poor countries can take a small financial [...]

On March 27, 2023, US Secretary of State Anthony Blinken and Colombian Minister of Foreign Relations Alvaro Leyva met in Washington to hold a high-level dialogue aimed at enhancing cooperation between the two countries. The meeting highlighted the strong partnership between the US and Colombia, with discussions covering a wide range of topics, including climate [...]

In early March 2023, a German delegation led by the Ministers of Economy and Climate, and Agriculture and Food, visited Colombia with the aim of strengthening bilateral relations and exploring collaboration opportunities in key areas such as green hydrogen and climate action. During their visit, the ministers met with representatives of the Colombian government and [...]

The Colombian government, led by President Gustavo Petro, has recently announced plans to invest in the country's railway system to boost the economy and promote sustainable development. According to an article published in Valora Analitik, the government aims to allocate 3.5 trillion Colombian pesos (approximately USD 890 million) to modernize and expand the national railway [...]