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Economy & Business - July 2025
COLOMBIA: Fiscal unravelling triggers credit downgrades
Two leading credit rating agencies have downgraded Colombia on the back of a deteriorating budget scenario and a less predictable fiscal policy. Standard & Poor’s lowered Colombia’s rating from ‘BB+’ to ‘BB’, two notches below investment grade, and put the country on a negative outlook. Moody’s cut its rating from ‘Baa2’ to ‘Baa3’, its lowest investment-grade rating, with a stable outlook. President Gustavo Petro has been reluctant to cut spending despite considerable revenue shortfalls as he battles congress and aims to mobilise supporters to boost the chances of his left-wing Pacto Histórico coalition ahead of next year’s general elections.
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