Colombia new finance minister seeks to build consensus as protests rage
Peso at its weakest since the beginning of November as investors awaited details about new fiscal plan
Colombia’s new finance minister struck a conciliatory tone as violent protests continued across the country, saying he would seek to build consensus around a proposal to shore up the budget without resorting to the types of tax hikes that have stirred the unrest.
Jose Manuel Restrepo took the reins of the Colombian economy after his predecessor was forced to resign, and sought to convey a message of financial stability as investors sent the peso and government bonds lower. He promised to come up with a new plan that would curb spending while raising 14-trillion pesos ($3.7bn) in revenue without relying on broad-based tax increases...
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