Weekly Report - 02 May 2013 (WR-13-17)

COLOMBIA | Santos’ ‘Pipe’ proves to be a hit. On 24 April ratings agency, Standard & Poor’s (S&P), announced that it was raising its credit rating for Colombia from BBB- to BBB, the highest rating ever awarded to the country. S&P’s decision came just two days after Colombia’s finance minister, Mauricio Cárdenas, held a meeting in Washington D.C. with international economic analysts, including representatives of the main ratings agencies, S&P, Moody’s and Fitch, to present them with the details of the Plan de Impulso a la Productividad y el Empleo (Pipe), the economic stimulus package recently launched by the government of President Juan Manuel Santos [WR-13-16].