Colombia

Forum highlights value of economic census after 34 years in Colombia

October 30, 2025 Carlos Ramírez

At the LR Forum 'Behind the Economic Census: Innovation and Value for Colombia', Dane experts and analysts highlighted the importance of the 2024 economic census, with preliminary results set for November 11, 2025. After 34 years without updating this data, the study will map productive units across the country, especially benefiting small producers. Its role in informed decision-making and microenterprise formalization was emphasized.

US confirms new bombing of drug traffickers' vessel in the Pacific

US Secretary of War Pete Hegseth confirmed an airstrike on a vessel used for drug trafficking in the Eastern Pacific, killing four people. The operation was ordered by President Donald Trump and took place in international waters. This incident adds to recent bombings in the region targeting narcotrafficking networks linked to terrorist organizations.

Reasons the US dollar stays below $4,000 pesos in Colombia

October 29, 2025 Carlos Ramírez

The US dollar has completed eight weeks without exceeding $4,000 pesos in Colombia, driven by global and local factors like the Federal Reserve's rate cut and increased dollar inflows. Analysts point to the DXY index's weakness and government operations strengthening the peso. This stability benefits imports and travel to the United States.

Liquor and wine VAT could increase 14% in tax reform

October 29, 2025 Carlos Ramírez

Colombia's National Government is preparing a $16.3 trillion tax reform that includes significant increases in taxes on liquors, wines, and aperitifs. It proposes raising the VAT from 5% to 19% on these products, along with consumption tax hikes of up to 224%. Prolicores warns that this would boost the illegal market from 22% to 50%, impacting jobs and the regional economy.

Andi highlights uncertainty from labor and tax reforms in Colombia

Colombia's National Association of Entrepreneurs (Andi) voiced concerns over uncertainty from the 2026 Budget discussion and pending tax reform. The labor reform's implementation has raised costs and hindered hiring, while informality remains a key challenge to competitiveness. A survey found 53% of entrepreneurs saying informality affects their operations.

Cali book fair turns into inclusive cultural festival

October 30, 2025 Carlos Ramírez

The International Pacific Book Fair in Cali, known as Filcali 2025, has become a genuine cultural and educational celebration attracting thousands. Featuring over 150 publishers and activities for children and youth, the event successfully competes with major concerts and stands out for its focus on inclusion. Additionally, Celsia presented its new art book, emphasizing sensory experiences beyond traditional reading.

Mercado Libre reports US$7,400 million in revenues for Q3 2025

October 29, 2025 Carlos Ramírez

Mercado Libre, Latin America's leading e-commerce firm, reported net revenues of US$7,400 million for the third quarter of 2025, a 39% year-over-year increase that beat analyst expectations. Yet, net profit of US$421 million fell short due to instability in Argentina. Growth was driven by initiatives in Brazil and Mexico.

Bac international seeks to buy banco de bogota's panamanian subsidiary

BAC Holding International Corp has authorized a shareholders' meeting to assess the purchase of Banco de Bogotá's Panamanian subsidiary by its affiliate BAC International Corporation. The deal involves 99.56% of Multi Financial Group's shares. Banco de Bogotá will also call its shareholders to discuss the potential sale.