Abelardo de la Espriella, Colombia's president-elect, held meetings with the World Bank and IMF to advance projects in infrastructure, health and education. Fitch Ratings warned of a fiscal deficit close to 7% of GDP and other economic challenges facing the new administration.
De la Espriella met with Susana Cordeiro, World Bank vice president for Latin America and the Caribbean. The meeting discussed a cooperation agenda for strategic projects in infrastructure, fiscal stability, health, energy and regional development.
"Colombia is the second most important country for the World Bank and the Caribbean and the fourth worldwide. That trust must translate into investment, growth and opportunities for all Colombians", the president-elect said.
Fitch Ratings noted that the new administration will receive an economy with a fiscal deficit close to 7% of GDP, inflation above the Banco de la República target and low investment levels. The firm also mentioned that the government has proposed authorizing fracking and reopening licenses for hydrocarbon exploration.
