Skip to content
freeloanfinders

freeloanfinders

Business, Your Way

Primary Menu
  • Interesting Economic
  • Business & Finance
  • Business Market
  • Best Investment
  • Life Insurance
  • Finance
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Colombia peso, market rally as business-friendly candidate advances
  • Business Market

Colombia peso, market rally as business-friendly candidate advances

By Ruth B. Brooks 1 year ago

By Nelson Bocanegra and Julia Symmes Cobb

BOGOTA, May 31 (Reuters) – Colombia’s peso COP=STFX and stock exchange closed higher on Tuesday, in the first session since the contest to elect the country’s next president narrowed to two candidates, including business-friendly construction magnate Rodolfo Hernandez.

Leftist Gustavo Petro, who has promised profound social and economic change, won 40.3% of votes in Sunday’s first round, while Hernandez, who has drawn support for his promises to tackle corruption, unexpectedly tallied 28.2%.

Hernandez, already backed by former center-right candidate Federico Gutierrez and likely many of his supporters, may be tough for Petro to beat.

The peso closed up 4.16% to 3,770 pesos per dollar, its sharpest daily increase since December 2010 and strongest value against the dollar since April 20. The COLCAP .COLCAP stock exchange was up 4.63% to 1,603.23 points at the end of trading.

Petro, a former mayor of Bogota, is making his third bid for the presidency promising free public university, a ban on new oil and gas projects and a pension reform to provide payments to the poorest.

Hernandez, a farmer’s son who made his fortune building low-income housing, says he will reduce the size of government and use the savings to pay off student debt, cut the value added tax nearly in half to 10% and combine a group of subsidies into one basic income.

Hernandez, who is financing his own campaign and has eschewed traditional advertising in favor of eccentric TikTok videos, is broadly seen as friendlier to the market – which was closed on Monday.

“Hernandez is seen as less negative…he represents some continuity in terms of economic freedom and free business,” said Andres Abadia, head economist for Latin America for Pantheon Macroeconomics.

“The markets have begun an important rally because the possibility of a disruptive change is now not the base scenario,” said Sergio Olarte, head economist for Colombia at Scotiabank.

Despite the 77-year-old’s business credentials, Capital Economics said in a note on Monday that Hernandez may present a larger threat than Petro.

“Neither Hernandez nor Petro are likely to tighten fiscal policy to reduce public debt risks, while both advocate higher trade barriers which bodes poorly for Colombia’s growth prospects,” the note said.

“(Hernandez’s) plan to slash taxes would cause the public debt-to-GDP ratio to surge (although we think it would continue to rise under Petro too),” it added. “Over the medium term, Hernandez’s plan to raise trade barriers would weigh on productivity and economic growth (Petro appears to advocate more moderate trade protection).”

The two men, who both have pledged to fully implement a 2016 peace deal with FARC rebels and seek talks with remaining guerrilla group the ELN, will face off again on June 19.

Hernandez has pushed back on accusations he will now represent the country’s right-wing parties, saying he will accept anyone who wants to vote for him but will not negotiate policies in exchange for alliances.

(Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Alistair Bell and David Gregorio)

(([email protected]; +57-316-389-7187;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags: "Women'S Business Casual, Amazon Fba Business, Atlanta Business Chronicle'S, Boss Baby Back In Business, Business Administration Degree, Business Attire Women, Business Card Design, Business Cards Templates, Business Casual Dress, Business Casual Outfits, Business Checking Account, Business Credit Card, Business For Sale Near Me, Business Intelligence Platform, Business Lawyer Near Me, Business Loan Calculator, Business Name Ideas, Business Professional Women, Business Spectrum Login, California Business Entity Search, Capital One Spark Business, Carl Weber'S The Family Business, Charlotte Business Journal, Custom Business Cards, Delaware Business Search, Fl Sos Business Search, Florida Business Search, Harvard Business Publishing, Insurance For Small Business, Kelley School Of Business, Maryland Business Express, Maryland Business Search", Moo Business Cards, National Business Furniture, New York Business Search, Ohio Business Gateway, Onedrive For Business, Online Business Ideas, Paramore Misery Business, Risky Business Cast, Small Business Insurance, Spectrum Business Customer Service, Tom Cruise Risky Business, Us Small Business Administration, Verizon Wireless Business, Verizon Wireless Business Login, Virtual Business Address, What Is Business Administration, Yelp Business Login, Yelp For Business

Continue Reading

Previous Local business owners holding out for economic boost of RNC
Next Using Home Equity to Start a Business
June 2023
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« May    

Archives

  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • March 2020
  • November 2018
  • October 2018
  • January 2017

Recent Posts

  • RFPIO Appoints DocuSign, Google & Seismic Alumnus As CMO
  • The Future Of Coworking: Trends And Insights
  • Does Cash Flow Affect My Business Loan Application?
  • Financial Freedom Unleashed: Experience the Magic of Mobile Banking
  • Attock Refinery shutting down distillation unit for eight days

BL

Tags

"Business Insurance Cover Coronavirus 5e Business Profit Ahron Levy Columbia Business School Business Business Consultant Certification Austin Business Letter With Logo Example Business Located Easy Location Business Platform Stocks Business Positions Seattle Business Regulation Legal Services Daystarr For Business Dimagi Business Development Toolkit Do Business Schools Accept Entreprenuers Enironmentall Friendly Business Ideas Eric Early Republican Business Owner Essec Business School Dean Essential Business To Remain Open Example Small Business Fall Winter Business Hours Template Fdot Woman Owned Business Certification First Business Women United States First Com Business Fixing A Damaged Reputation Business Florida Business Enforcement Free Small Business Communication Tool Law School Business Entity Outlines Mapping A Business Location Medical Business Trends Economics Mix Business And Personal Money Mlm Nit Small Business Legally New Business Agency Sales Questions Patricia Saiki Women'S Business 1990 Safety Business Proposal Sample Business Plan Entrepreneur School Business Administration Positions S Corp Business Deductions Search Tx Business Llc Sentextsolutions Business Cards Signs For Business On Roads Skype For Business Recording Capacity" Small Business Forums .Net Small Business Insurancr Tech Monkey Business Ttu Business Cards Template Turbotax Business Nys Forms
freeloanfinders.com | Magazine 7 by AF themes.

WhatsApp us