Carlos Ramírez

Tax reforms not impacting Colombia's government revenue

Despite multiple tax reforms, Colombia's government revenue remains between 14.4% and 16.6% of GDP through 2026, according to an analysis by the Universidad Javeriana's Fiscal Observatory. The study highlights a projection shortfall exceeding that of countries like Chile, with overestimation above 4% of GDP. A deficit of up to 8 trillion pesos is forecasted for 2025.

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.

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.

US attacks in Pacific kill 14 suspected narcotraffickers

October 28, 2025 Carlos Ramírez

The United States confirmed aerial attacks on four boats suspected of drug trafficking in the eastern Pacific, killing 14 and leaving one survivor. Defense Secretary Pete Hegseth detailed that the operations took place in international waters near Mexico. These bombings are part of a broader offensive against drug trafficking in the region.

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.

Gustavo Petro's inclusion in Clinton List sparks legitimacy crisis

October 28, 2025 Carlos Ramírez

President Gustavo Petro was added to the US Treasury's Clinton List, freezing any assets under US jurisdiction and barring transactions with American citizens or companies. The measure also impacts his wife, son, and Interior Minister, marking the first time a Colombian president appears on the list. Experts note that his pension and Ecopetrol remain unaffected, though questions arise over managing his personal finances.

Friends celebrate costume day in advance

A group of friends gathered at Patricia García's home to celebrate the Day of Costumes ahead of schedule. The evening was filled with joy, good music, snacks, and colorful costumes that made the night a special occasion.