Weekly Report - 20 June 2013 (WR-13-24)

COLOMBIA |Ten-year fiscal plan approved. The Colombian government announced on 13 June that its national economic and social policy council (Conpes) had approved a new medium term fiscal framework that is to govern the country’s public finances over the next 10 years. In making the announcement, Finance Minister Mauricio Cárdenas said that by approving the plan Conpes had “reaffirmed the government’s commitment with fiscal sustainability expressed in the gradual reduction of the fiscal deficit, [and] a reduction in the public debt as a percentage of GDP, in a bid to ensure that everyday the country consolidates its finances, which would allow us to improve our credit rating”.