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LatinNews Daily - 07 October 2021

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In brief: Moody’s improves its outlook for Colombia

* The international credit ratings agency Moody’s has raised its outlook for Colombia from ‘negative’ to ‘stable’, while maintaining the country’s credit rating at Baa2, indicating a moderate credit risk but a strong ability to repay short-term debt obligations. Moody’s attributed the improved outlook to Colombia’s tax reform, which was promulgated on 14 September. A Moody’s statement notes that “the stable outlook reflects Moody’s expectation that the fiscal measures approved by the government and the post-pandemic economic recovery will support debt stabilisation,” and “assumes that the next administration [due to take office after the May 2022 presidential election] will maintain prudent macroeconomic policies.”