Latest News

Colombia’s Ecopetrol profits dive during first half of 2024

By The City Paper Staff - August 14, 2024

Ecopetrol’s profits fell by 24% in the first half of 2024 due to lower oil prices and unfavorable exchange rates, marking the third consecutive quarter of declining earnings. The company is exploring strategic options amid domestic and global challenges, including potential natural gas imports from Venezuela.

President Gustavo Petro in San Andrés on the day of the kidnapping of 79 Colombian policemen. Photo: Presidencia

U.S. Investment Climate Report highlights challenges to Colombia’s Economy

By The City Paper Staff - July 18, 2024

The U.S. Department of State’s 2024 Investment Climate report highlights rising uncertainty for investors in Colombia under President Gustavo Petro, with economic growth slowing to 0.6% in 2023 due to decreased investment and high-interest rates.

Colombian Peso weakens against U.S Dollar with fiscal uncertainty

By The City Paper Staff - June 14, 2024

The Colombian peso depreciates sharply against the dollar, hitting a high of $4,150 amid market uncertainty and upcoming fiscal policy announcements by the Petro government.

Travelers pass through Bogotá's El Dorado airport.

Colombians are emigrating in record numbers, some 1,200 every day

By Richard Emblin - June 4, 2024

The numbers of Colombians who are leaving the country to never return has reached historiic levels, with some 1,200 every day according to the country’s migration entity.

Colombian economy posts modest 0.7% growth in Q1 2024, lowest in four years

By The City Paper Staff - May 15, 2024

Colombia’s economy grows 0.7% in Q1 2024, the slowest in four years, amid market uncertainty under President Gustavo Petro’s administration.

ICC Americas Summit galvanizes global business leaders toward economic growth

By Special Coverage - May 9, 2024

Business leaders from over 35 nations gather at the inaugural Americas Summit of the World Federation of Chambers (ICC) in Bogotá, forging partnerships and exploring opportunities for economic growth and collaboration across the region.

Bogotá faces water crisis as San Rafael Reservoir runs dry

By Richard Emblin - April 11, 2024

Bogotá on the brink: Water shortage emergency declared as San Rafael Reservoir levels plummet to lowest in 40 years. Citywide water rationing starts Thursday, April 11 in 10 localities.

Colombia’s near-stagnant GDP in 2023 warns of “technical recession”

By The City Paper Staff - February 16, 2024

Colombia’s GDP stagnates at 0.6% in 2023, casting doubt on President Petro’s economic policies and raising concerns for the nation’s financial future.

S&P Global assigns a “negative” outlook to Colombia in 2024

By The City Paper Staff - January 19, 2024

Standard & Poor’s warns of a potential downgrade for Colombia’s credit rating in 2024, citing a negative outlook amid economic challenges, including exports, and weak investor confidence.

Galán charts ambitious course for Bogotá during inaugural address

By The City Paper Staff - January 2, 2024

Carlos Fernando Galán unveiled his ambitious vision for Bogotá, prioritizing security, mobility, and economic resilience during his inaugural address on Monday Colombian capital’s new Mayor.

Colombia’s leftist government is not what Washington expected

By Kristina Foltz - November 20, 2023

The presidency of Colombia’s Gustavo Petro is a case study in the contradictions inherent to this new wave of leftists who dominate Latin America’s political landscape.

Colombia’s GDP in negative territory, recession looms for 2024

By Richard Emblin - November 16, 2023

Colombia faces economic turbulence as the Gross Domestic Product (GDP) takes a nosedive into negative territory during the third quarter of 2023.

Colombia at risk of losing Emerging Market status warns JP Morgan

By The City Paper Staff - September 6, 2023

Colombia’s Emerging Market status is at risk as JPMorgan warns of “uncertain political landscape”, triggering a major stock market sell-off. The downturn comes as President Petro faces another deep political scandal involving alleged election interference by convicted drug traffickers.