BOGOTA, Nov 17 (Reuters) – Colombia Finance Minister Jose Antonio Ocampo on Thursday opened the door to potential financing in worldwide markets for the Andean nation, if the latest development in falling borrowing prices continues.
The South American nation has already met its focused debt degree in international and native markets this yr.
Ocampo had beforehand shut down the potential for on the lookout for financing in worldwide markets in latest months because of the excessive prices of debt brought on by rising rates of interest worldwide, saying Colombia would concentrate on multilateral banking as an alternative.
“If this development (of lowering worldwide financing prices) continues, as we have now seen in latest days, the potential for going to the non-public worldwide market will even be open for the federal government,” Ocampo mentioned at a discussion board in Bogota.
On the similar time Ocampo attributed change fee actions – the place Colombia’s peso has depreciated strongly within the final three days – to excessive ranges of market hypothesis.
“Final week we had the most effective efficiency in Latin America. We hope that this may degree out, however this week we’re once more seeing lots of hypothesis in change charges,” he mentioned.
Colombia’s peso depreciated 2.04% in early enterprise hours on Thursday, to five,051 models per greenback, in comparison with Wednesday’s shut.
Reporting by Carlos Vargas and Nelson Bocanegra; Writing by Oliver Griffin; Enhancing by Andrea Ricci
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