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Latin American Economy & Business - August 2016 (ISSN 1741-7430)

Colombia: Worries over a fiscal crunch

In politics and economics, timing is everything, some say. That dictum is about to be tested in Colombia. Amid reduced oil revenues and increased spending commitments linked to the historic pending peace settlement with the rebel group Fuerzas Armadas Revolucionarias de Colombia (Farc), the government of President Juan Manuel Santos is running out of money. Santos says the situation is in hand, and that a major tax reform will be introduced before the end of this year to balance the books. But with a referendum on the peace agreement also due to be held before the end of the year, critics say the tax reform may slip back, with damaging consequences.

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