LatinNews Daily - 20 October 2020

* Colombia’s congress has approved in full the government’s proposed Col$314trn (US$84.6bn) national budget for 2021, the largest in Colombia’s history. The 13.5% increase on the 2020 budget was justified in reference to the economic challenges posed by the coronavirus (Covid-19) pandemic, and while opposition legislators pushed for this total to be increased (tabling 68 additional proposals in the chamber of representatives, and 81 in the senate), the government’s majority coalition voted down all attempts to amend the budget. Finance Minister Alberto Carrasquilla insisted that there is no scope for any further spending and rejected the suggestion that he seek a moratorium on foreign debt repayments to finance such an increase.

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