Colombia

Fitch maintains Ecopetrol's national rating at AAA

Fitch Ratings reaffirmed Ecopetrol's international rating at BB+ with a negative outlook, while maintaining the national long-term rating at AAA with a stable perspective. These assessments reflect the state oil company's close ties to the Colombian government. However, delays in government payments and changes in the board of directors could impact its liquidity and future operations.

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.

Chez Migu opens in Bogotá with modern French cuisine proposal

The Chez Migu restaurant, specializing in modern French cuisine, has opened its Bogotá location following success in Medellín. Located in Chapinero, the venue aims to serve over 300,000 unique diners in its first year with an investment of nearly $1.800 million.

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.

Geopark directors reject parex resources offer

GeoPark's board unanimously rejected an unsolicited proposal from Parex Resources to acquire the company for US$9 per share. The offer, received on September 4, 2025, is seen as undervaluing GeoPark and failing to account for its growth potential after the Vaca Muerta acquisition. The company stresses its commitment to a strategic plan boosting production and EBITDA.

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.

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.