LatinNews Daily - 20 January 2021

In brief: Colombia’s national debt hits record high

* Colombia’s finance ministry has reported that at the close of 2020, the national debt totalled Col$619.5trn (US$177.5bn), a new record high, equivalent to 61.4% of GDP. Col$389.8trn of this total corresponds to internal debt, while the remaining Col$229.7trn is external debt. Colombia’s national debt grew substantially last year due to increased public spending and reduced revenue in the face of the economic crisis caused by the coronavirus (Covid-19) pandemic; at the close of 2019, the national debt had been just Col$550.8trn, equivalent to 48.6% of GDP.