Net profits at Colombia’s state-controlled oil producer Ecopetrol fell 42.7% in 2014 versus the year before, due to lower crude prices and higher costs.
The Colombian peso continues to drop against the dollar, which broke through the COP2,500 barrier on Monday. The extent of the dollar’s appreciation came as a surprise for most analysts.
Colombia will delay spending $2.44 billion (6 trillion pesos), some 3% of its national budget, due to a sharp fall in oil revenue, the government said on Saturday.
Colombia and the United States are collaborating on a corruption probe involving Colombian state oil company Ecopetrol SA and U.S. executives, President Juan Manuel Santos’ office said Monday.
Colombia’s congress on Monday began debating the government’s 2014-2018 Development Plan. This four-year policy framework includes a number of flagship policy proposals including peace-building, a metro for Bogota, a population census and Full Article »
Almost 300 Colombians had $276.4 million parked on secret Swiss accounts managed by British bank HSBC, reported French newspaper Le Monde and investigative journalism collective ICIJ on Monday.
Colombia’s external debt continues to balloon at a pace far more rapid than the country’s GDP growth, according to the central bank.