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☆ Colombia's Petro Denies Calling for Cabinet Resignations
▼ + stars: | 2024-02-01 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

Colombian presidents frequently request mass, 'protocol' cabinet resignations in order to make changes to the government, though these are not guaranteed. The three government sources said had Petro asked for the resignations of his ministers during a meeting on Wednesday evening. Rather than the president demanding their resignations, ministers offered to resign, Agriculture Minister Jhenifer Mojica said during a presentation near capital Bogota. Petro last called for ministers' resignations in April after a debate on a health reform was abandoned by the lower house of congress. (Reporting by Oliver Griffin and Luis Jaime Acosta; Additional reporting by Carlos Vargas; Writing by Oliver Griffin; Editing by Sandra Maler)

Persons: Oliver Griffin, Luis Jaime Acosta BOGOTA, Gustavo Petro, Petro, Jhenifer Mojica, Jorge Ivan Gonzalez, Ricardo Bonilla, Jose Antonio Ocampo, Luis Jaime Acosta, Carlos Vargas, Sandra Maler Organizations: Finance Locations: Bogota

Big-name free agents appear in no hurry to strike deals at the winter meetings, biding time until Shohei Ohtani potentially breaks the record for richest contract set 4 1/2 years ago by Mike Trout. “It's probably a little slower from a conversation standpoint at a winter meetings than it normally would,” New York Mets president of baseball operations David Stearns said Monday. Behind Ohtani in the hitters free-agent pecking order are Cody Bellinger and Matt Chapman, both represented by the sport's biggest agent, Scott Boras. Among starting pitchers, the market includes Blake Snell and Jordan Montgomery, also represented by Boras. “He’s going to make other pitchers better.”___AP Sports Writer Teresa M. Walker contributed to this report.

Persons: ., Shohei, Mike Trout, Yoshinobu Yamamoto, “ It's, ”, David Stearns, hasn't, ” Ohtani, Nez, Cody Bellinger, Matt Chapman, Scott Boras, Blake Snell, Jordan Montgomery, Farhan Zaidi, “, Ross Atkins, Atkins, San Diego, Juan Soto, Jarred Kelenic, Marco Gonzales, Evan White, Cole Phillips, Jackson Kowar, Gonzales, White, Eugenio Suárez, Carlos Vargas, Seby Zavala, Scott Servais, “ That’s, Jackson Chourio, “ There’s, I’m, ” Chourio, Milwaukee, Wade Miley, Pat Murphy, “ He’s, Teresa M, Walker, ___ Organizations: ” New York Mets, Los Angeles Angels, Creative Artists Agency, Gaylord, Convention, Boras, San Francisco Giants, CBA, Blue Jays, San, Atlanta Braves, Seattle Mariners, Atlanta, Seattle, ” Mariners, Brewers Locations: Tenn, Nez Balelo, ” Toronto, Nashville, Seattle, Arizona, Milwaukee

PHOENIX (AP) — The Arizona Diamondbacks acquired slugger Eugenio Suárez on Wednesday from the Seattle Mariners for reliever Carlos Vargas and catcher Seby Zavala, according to a person familiar with the deal. The person spoke to The Associated Press on condition of anonymity because the trade had not been announced. He fills a need for the D-backs at third base, which was manned mostly by Evan Longoria and Emmanuel Rivera last season. He hit .232 with 22 homers and 96 RBIs for the Mariners last season, playing third base and designated hitter. Vargas is a 24-year-old right-hander who made his big-league debut with the Diamondbacks this season, throwing in five games.

Persons: Eugenio Suárez, Carlos Vargas, Seby Zavala, Evan Longoria, Emmanuel Rivera, Suárez, Vargas, Zavala, ___ Organizations: PHOENIX, The Arizona Diamondbacks, Seattle Mariners, Associated Press, Cincinnati Reds, NL, Mariners, Diamondbacks, Chicago White Sox, Arizona Diamondbacks, The Seattle Times

☆ Son of Colombia's president admits illegal money entered election campaign -prosecutor
▼ + stars: | 2023-08-03 | by ( Carlos Vargas | ) www.reuters.com time to read: +2 min

Nicolas Petro, son of Colombian President Gustavo Petro, speaks at the Atlantic Assembly in Barranquilla, Colombia on March 14, 2023, in this screengrab taken from a handout video. Asamblea del Atlantico / Handout via REUTERS/File PhotoBOGOTA, Aug 3 (Reuters) - Nicolas Petro, the eldest son of Colombian President Gustavo Petro, on Thursday admitted that illegal money entered his father's election campaign last year, the prosecutor handling the case said on Thursday. The president insisted he will remain in office until 2026, citing the mandate of his election victory. "No one but the people can end this government," Petro said during a speech in Sincelejo, in Colombia's Sucre province. According to the charges, Nicolas Petro, a lawmaker in Atlantico province, received money from accused drug traffickers in exchange for including them in the president's peace plans.

Persons: Nicolas Petro, Gustavo Petro, Daysuris del Carmen Vasquez, Mr, Nicolas Fernando Petro Burgos, Gustavo Petro Urrego, Mario Burgos, Vasquez, Petro, Carlos Vargas, Nelson Bocanegra, Julia Symmes Cobb, Oliver Griffin, Gerry Doyle, Leslie Adler Organizations: Atlantic Assembly, REUTERS, Thomson Locations: Barranquilla, Colombia, del Atlantico, Handout, BOGOTA, Burgos, Sincelejo, Colombia's Sucre, Atlantico province

☆ Colombian children who survived five weeks in jungle released from hospital
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, July 14 (Reuters) - Four Colombian Indigenous children who survived a plane crash in the country's Amazon region and lived for more than five weeks in the jungle have been released from hospital after a 34-day stay, the government said on Friday. The children, aged 1 through 13, survived the May 1 crash that killed their mother and two other adults and were found last month. The Indigenous children's knowledge of the jungle, as well as the eldest sister's courage, have been credited by officials with saving their lives. "They have recovered size and weight, really they are very well," Astrid Caceres, the director of the country's child welfare institute, told journalists. Both the father of the two youngest children and their mother's family have told media they want custody.

Persons: Astrid Caceres, Caceres, Carlos Vargas, Julia Symmes Cobb, Deepa Babington Organizations: Thomson Locations: BOGOTA, Colombian

☆ Colombia senate votes down recreational marijuana bill
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

[1/5] People demonstrate in front of the Colombian Congress, in favor of the regulation of marijuana for adult use in Bogota, Colombia June 20, 2023. Uruguay, Canada and some states in the U.S. allow the sale of recreational marijuana. Backers including Interior Minister Luis Fernando Velasco said recreational marijuana's continued illegality only benefits criminals. "From the government we will insist on this issue," Velasco said in quotes shared by the Senate on Twitter. We have majorities, we lacked seven votes," he tweeted after the vote on the bill, which needed 54 votes in favor and won 47, with 43 against.

Persons: Luisa Gonzalez BOGOTA, Gustavo Petro, Luis Fernando Velasco, Velasco, Juan Carlos Losada, Oliver Griffin, Carlos Vargas, Julia Symmes Cobb, Alexander Smith Organizations: Colombian, REUTERS, Colombia's, Senate, Twitter, Liberal Party, Thomson Locations: Bogota, Colombia, Uruguay, Canada, U.S

☆ Colombia could be open to buying Venezuela's Monomeros -Finance Minister
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, Nov 30 (Reuters) - Colombia could be open to buying Venezuelan fertilizer maker Monomeros, Finance Minister Jose Antonio Ocampo said on Wednesday, at a time when higher fertilizer prices have contributed to inflationary pressure. Though Monomeros is based in the Colombian city of Barranquilla, it is owned by Pequiven, which is a unit of Venezuelan state-owned oil company PDVSA. The government of Venezuelan President Nicolas Maduro regained control of Monomeros' board of directors in mid-September, following a couple of years when it was controlled by opposition leader Juan Guaido. The recent changes to Monomeros' management occurred at a time when relations between Colombia and Venezuela - particularly in economic and military cooperation - have strengthened, following the election of Colombian President Gustavo Petro. Reporting by Carlos Vargas and Nelson Bocanegra Writing by Oliver Griffin Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Colombia finance minister opens door to international financing
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, Nov 17 (Reuters) - Colombia Finance Minister Jose Antonio Ocampo on Thursday opened the door to possible financing in international markets for the Andean country, if the recent trend in falling borrowing costs continues. The South American country has already met its targeted debt level in foreign and local markets this year. Ocampo had previously shut down the possibility of looking for financing in international markets in recent months due to the high costs of debt caused by rising interest rates worldwide, saying Colombia would focus on multilateral banking instead. "If this trend (of decreasing international financing costs) continues, as we have seen in recent days, the possibility of going to the private international market will also be open for the government," Ocampo said at a forum in Bogota. Reporting by Carlos Vargas and Nelson Bocanegra; Writing by Oliver Griffin; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ Colombia economy grew 7% in Q3, beating expectations
▼ + stars: | 2022-11-15 | by ( Carlos Vargas | ) www.reuters.com time to read: +2 min

In a Reuters poll last week analysts said they expected growth in Latin America's fourth-largest economy to slow amid moderating domestic consumption, rampant inflation and rising interest rates. read moreThe economy grew 1.6% in the third quarter versus the second quarter, DANE said. The finance sector registered 9.2% growth in the third quarter compared to the same period a year earlier, while retail expanded by 8.1%. In September the economy grew by 4.2%. read moreThe technical team of the country's central bank forecasts GDP growth for this year at 7.9% and 0.5% for 2023.

☆ Colombian $4 billion tax reform becomes law, duties on oil and coal hiked
▼ + stars: | 2022-11-04 | by ( Carlos Vargas | ) www.reuters.com time to read: +2 min

BOGOTA, Nov 3 (Reuters) - Colombia's Congress on Thursday approved a tax reform bill that will raise an additional 20 trillion pesos ($4 billion) annually for the next four years, in part through increased duties on oil and coal. The new law, the centrepiece of new President Gustavo Petro's economic policies, seeks to fund social projects and put the country's public finances in order. The new law states that oil companies will be taxed an additional 5% when international prices are between $67.3 and $75 per barrel. Oil and mining companies will also not be able to deduct the value of royalties from income taxes. ($1 = 5,015.84 Colombian pesos)Reporting by Carlos Vargas; Writing by Julia Symmes Cobb; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ Suspension of oil exploration in Colombia would be high risk -fiscal paneld
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

BOGOTA, Oct 31 (Reuters) - Income derived from hydrocarbon exploration and production in Colombia is key to the country's financial stability and its trade balance, its fiscal rule committee said on Monday, and suspension of exploration would put fiscal sustainability at risk. Hydrocarbons represent nearly 40% of exports, 20% of foreign direct investment and between 10% and 20% of the national government's income, the Autonomous Fiscal Rule Committee (CARF), which oversees public finances, said in a statement. "Certainty about future income is indispensable to maintain financing sources and an adequate level of risk," it said. The high level of public debt is a fiscal risk and high interest rates, increased risk premiums and a deep depreciation of the peso currency will mean higher interest rates on the country's debt, CARF said. For that reason it is important that planning for the resources which come from the tax reform is done in concurrence with the fiscal rule and its objective to reduce net debt."

☆ Colombia's finance minister asks central bank to discuss futures markets liquidity
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

BOGOTA, Oct 26 (Reuters) - Colombian Finance Minister Jose Antonio Ocampo has asked the country's central bank to discuss liquidity in futures markets in its monthly meeting this Friday, he said on Wednesday, at a time when local currency and public debt are experiencing turbulence from domestic uncertainty. "There is an issue that I have asked the (central) bank for us to discuss on Friday about futures markets, about how liquid or not those futures markets are," Ocampo told reporters. In 2020, during the worst of the coronavirus pandemic, Colombia's central bank took extraordinary measures to boost liquidity, such as foreign exchange hedging via auctions for the sale of dollars through forward operations, or "swaps." In a recent Reuters poll, 12 out of 14 analysts forecast the central bank will raise its benchmark interest rate by 100 basis points to 11% on Friday. One of the analysts projected a hike of 75 basis points and another forecast an increase of 50 basis points.

☆ Colombia gov't agrees to ease tax changes to oil, mining
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterColombia's President Gustavo Petro addresses the media after a meeting, in Bogota, Colombia July 22, 2022. The threshold for the export tax on oil will now be $71 per barrel, compared to a previous $48 per barrel. The reform may not raise 25 trillion pesos in additional income next year, Ocampo said, though he did not give more details. Meanwhile a proposal to raise taxes on gasoline will be scrapped, and more changes to the bill are expected next week. Thousands marched earlier on Monday to urge changes to the reform, which would also raise taxes on those earning more than $2,259 per month, about 10 times the minimum wage, and eliminate exemptions.

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