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.

Petro’s halt to Israel coal exports will hurt Colombia investments

By The City Paper Staff - June 11, 2024

Colombia’s suspension of coal exports to Israel with the Gaza conflict sparks industry concern and could strain U.S investor confidence in the South American nation.

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.

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.

Petro rents Davos venue for US$1.2 M ahead of World Economic Forum

By The City Paper Staff - January 15, 2024

As world leaders descend on Davos, Switzerland, Colombia’s Gustavo Petro has cancelled this attendance at the 54th edition of the World Economic Forum.

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’s Ecopetrol anticipates production rise in 2023 as profits dive

By The City Paper Staff - November 8, 2023

Colombia’s Ecopetrol anticipates a boost in oil production for 2023 despite a sharp drop of near 47% in net profits. The energy giant is looking to diversify its alternative, low-emissions portfolio.

Banco de la República celebrates 100 years.

Colombia’s Banco de la República celebrates a century’s commitment to culture

By The City Paper Staff - October 1, 2023

Colombia’s central bank, Banco de la República, is celebrating its centenary with an extensive cultural agenda and benefactor of many of the nation’s most prestigious cultural landmarks, museums and public libraries.

Colombia’s Banco de la República issues 10,000-peso Commemorative Coin

By The City Paper Staff - August 9, 2023

Step into Colombia’s rich maritime history with the Colombian Naval Battle Commemorative Coin—a tribute to the fearless seafarers who championed the nation’s independence.

Banco de la República inaugurates centenary with reopening of Casa de Moneda

By The City Paper Staff - July 17, 2023

Colombia’s Central Bank – Banco de la República – launches its centenary celebrations with the reopening of the old mint Casa de Moneda in Bogotá.

Why central banks face an epic battle against inflation amid political obstacles

By The Conversation - January 5, 2023

Where is the global economy heading in 2023? After all the challenges of last year, it’s a question we ask with trepidation. Just as the economy was dealing with the ongoing effects of the COVID-19 pandemic, Russia’s invasion of Ukraine in February ramped up inflation.