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[1/2] Chairman Anthony Thomson (L) and Vice Chairman Vernon Hill pose with a dog outside the first branch of Metro Bank in Holborn in central London July 29, 2010. Metro declined to comment on Tuesday. A Starling spokesperson said the lender was making inroads into the big banks' market dominance. Metro is not the only smaller bank to have faced problems. One option is for smaller banks to gain scale through mergers and acquisitions.

Persons: Anthony Thomson, Vernon Hill, Toby Melville, John Cronin, Caius Capital, Jaime Gilinski, Dorita, Gilinski, Monzo, Starling, We've, Morgan Stanley, Gary Greenwood, Rupak Ghose, Shore Capital's Greenwood, Ghose, Shawbrook, Iain Withers, Pablo Mayo Cerqueiro, Anousha Sakoui, Huw Jones, Amy, Jo Crowley, Sinead Cruise, Chiara Elisei, Nelson Bocanegra, Alexander Smith, Jonathan Oatis Organizations: Metro Bank, REUTERS, Yorkshire, Lloyds, NatWest, HSBC, Barclays, Metro, Caius, Varde Partners, Harvard, Forbes, Finance, Bank of England, London Stock Exchange, The Bank of England, Prudential, Authority, Shore Capital, Reuters Graphics Reuters, Shore, Financial, Bank, Reuters, Thomson Locations: Holborn, London, BOGOTA, Starling, Colombian, Latin America, Metro, Bogota

☆ Colombia banks call for measures to help liquidity squeeze
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, Aug 23 (Reuters) - Colombia's banks have called on the country's central bank to tackle liquidity issues amid lower-than-expected government spending and compliance with international regulatory framework Basel III, which strengthens bank risk management. Analysts attribute the financial system's decrease in liquidity to the government's slower budgetary spending and higher tax collection. The funds are stored in the central bank and have not flowed into the economy. Furthermore, banks are required to retain a certain level of reserves under Basel III, adding to the liquidity strain, Asobancaria said. The liquidity needs of banks have seen commercial interest rates rise above the central bank's benchmark rate of 13.25%.

Persons: Asobancaria, Nelson Bocanegra, Oliver Griffin, Josie Kao Organizations: Basel III, Thomson Locations: BOGOTA, Basel, Colombian

☆ Focus: Colombia's potential renewables boom short circuits on Indigenous resistance
▼ + stars: | 2023-08-15 | by ( Nelson Bocanegra | ) www.reuters.com time to read: +7 min

Solar photovoltaic array is seen at a solar power field of the company Celsia, in Yumbo, Colombia, February 6, 2019. Joanna Barney, a researcher at non-governmental organization Indepaz said she was aware of the deaths associated with conflicts over renewables projects. Renewables - even if ostensibly more environmentally-friendly - are facing hurdles similar to those confronted by oil and mining companies, long Colombia's top sources of income. Wind and solar provide less than 1% - about 300 megawatts - of Colombia's current energy generation. "The projects aren't operating and it doesn't seem like they will start in the next two years," said Alejandro Lucio of Optima Consultores, which advises renewables companies.

Persons: Julia Symmes Cobb, Gustavo Petro, Italy's, Petro, Jose Silva, Silva, Enel, Colombia Erik Hoeg, Hoeg, Joanna Barney, Indepaz, Alexandra Hernandez, Alejandro Lucio, Optima, Nelson Bocanegra, Christian Plumb Organizations: REUTERS, University of La, EDP Renewables, Brookfield Asset Management, AES, El, Nacion, Reuters, Renewables, Colombian Renewable Energy Association, Thomson Locations: Yumbo, Colombia, BOGOTA, Colombia's La Guajira, Guajira, University of La Guajira, Energi, Brookfield, La Guajira, Colombia's, Europe, Chile, Mexico

☆ Colombia's central bank cuts 2023 forecasts for inflation, growth
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Luisa GonzalezBOGOTA, Aug 2 (Reuters) - The technical team of Colombia's central bank on Wednesday lowered its outlook for inflation in 2023 to 9%, from 9.5% previously, and cut its forecast growth for Latin America's fourth-largest economy to 0.9%. The technical team previously forecast Colombia's economic growth at 1% for this year. Colombia's 12-month inflation through June 30 hit 12.13%, slightly below the 12.2% expected by analysts who were consulted for a Reuters poll. The technical team forecast that inflation would end 2024 at 3.5%, close to the bank's long-term target of 3%, but above a previous forecast of 3.4%. The current economic context suggests the board should maintain a contractive stance on monetary policy to bring inflation towards the target, the report added.

Persons: Luisa Gonzalez BOGOTA, Ricardo Bonilla, Gustavo Petro, Nelson Bocanegra, Oliver Griffin, Leslie Adler, Christopher Cushing Organizations: REUTERS, Thomson Locations: Bogota, Colombia

☆ Colombia's central bank cuts 2023 inflation forecast to 9%
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Luisa GonzalezBOGOTA, Aug 2 (Reuters) - The technical team of Colombia's central bank on Wednesday lowered its outlook for inflation in 2023 to 9%, from 9.5% previously, citing a recent slowing of consumer price growth. The team also now expects Latin America's fourth largest economy to post growth of 0.9% this year, compared with a previous forecast of 1%. Colombia's 12-month inflation through June 30 hit 12.13%, slightly below the 12.2% expected by analysts who were consulted for a Reuters poll. The technical team forecast that inflation would end 2024 at 3.5%, close to the bank's long-term target of 3%, but above a previous forecast of 3.4%. Reporting by Oliver Griffin and Nelson Bocanegra; Editing by Sandra Maler and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Luisa Gonzalez BOGOTA, Ricardo Bonilla, Gustavo Petro, Oliver Griffin, Nelson Bocanegra, Sandra Maler, Leslie Adler Organizations: REUTERS, Thomson Locations: Bogota, Colombia

☆ 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

☆ Colombia proposes 502.6 trillion pesos 2024 budget
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, July 29 (Reuters) - Colombia's government on Saturday presented a budget proposal worth 502.6 trillion pesos ($127.8 billion) for 2024 to Congress, 19% greater than this year, the Finance Ministry said, an amount that would be the country's highest if approved. The proposal includes spending 94.52 trillion pesos for servicing debt, and 97.75 trillion pesos for investment. "The 2024 budget is realistic," the finance ministry said in a statement. Government ministers worked through Thursday night to finish the proposal, President Gustavo Petro said on Friday in a post on social media platform X, formerly known as Twitter. The proposed budget earmarks 70.5 trillion pesos for education, health, drinking water and other general purposes, and some 57.4 trillion pesos would fund the state pension system.

Persons: Gustavo Petro, Colombia's, Nelson Bocanegra, Julia Cobb Symmes, Oliver Griffin, Sandra Maler Organizations: Finance Ministry, Twitter, Congress, Thomson Locations: BOGOTA

☆ Colombia gov't risks incompliance with fiscal rule - committee
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

BOGOTA, July 10 (Reuters) - Colombia risks falling out of compliance with its fiscal rule through greater spending proposed for 2024 and the financial impact of reforms being debated in Congress, an independent committee warned on Monday. Finance Minister Ricardo Bonilla has said the government would respect the 2011 rule which imposes constraints on fiscal policy to block deterioration of public finances. The finance ministry in June presented its medium-term fiscal framework (MFMP), noting that the deficit could increase to 4.5% of Gross Domestic Product in 2024. It revised its debt targets upwards and adjusted its fiscal deficit forecast for 2023 up to 4.3% of GDP from 3.8% originally. The expert Autonomous Fiscal Rule Committee (CARF) said spending increases planned for this year and next could put greater pressure on Colombia's finances and reverse success in reducing the deficit following the coronavirus pandemic.

Persons: Ricardo Bonilla, Gustavo Petro, Nelson Bocanegra, Oliver Griffin, Richard Chang Organizations: . Finance, Gross, Thomson Locations: BOGOTA, Colombia

☆ Analysis: Latin America, after record tightening, could lead way on rate cuts
▼ + stars: | 2023-06-26 | by ( Marion Giraldo | ) www.reuters.com time to read: +5 min

The small South American country of Uruguay has already cut rates, by 25 basis points in April. Chile's central bank kept its key interest rate on hold at 11.25% last week, but said if recent positive trends continue, it could begin cutting the rate in the short term. Forecasts are pointing to a rate cut next month, said Cesar Guzman, macroeconomic analyst at Santiago-based Grupo Securities. Even there, however, the central bank opted to hold rates steady in June as monthly inflation slowed for the first time in half a year. "Colombia and Mexico will be the last ones to cut rates, possibly in the fourth quarter."

Persons: Joan Domene, Reuters Graphics Goldman Sachs, Alberto Ramos, Cesar Guzman, Luiz Inacio Lula da Silva, Kimberley Sperrfechter, Andres Pardo, Marion Giraldo, Natalia Ramos, Fabian Cambero, Nelson Bocanegra, Anthony Esposito, Jonathan Oatis Organizations: MEXICO CITY, U.S . Federal Reserve, European Central Bank, Bank of England, America, Oxford, Reuters Graphics, Grupo Securities, Reuters, Capital Economics, XP Investments, Thomson Locations: MEXICO, Chile, Brazil, Mexico, American, Uruguay, Santiago, COLOMBIA, America, Argentina, Colombia, Bogota

☆ Child plane crash survivors in "acceptable" state of health
▼ + stars: | 2023-06-10 | by ( ) www.reuters.com time to read: +3 min

BOGOTA, June 10 (Reuters) - Four Indigenous children who were missing for more than five weeks in Colombia's southern jungle, after surviving a plane crash which killed their mother, are in an "acceptable" state of health, the government said on Saturday. "In general the boy and the girls are in an acceptable state. The youngest of the children turned one while in the jungle, while her brother had his fifth birthday, he said. Clues as to the siblings' whereabouts have been reported for weeks as the search, dubbed Operation Hope, continued. Three adults, including the pilot and the children's mother, died in the crash and their bodies were found inside the plane.

Persons: Gustavo Petro, Petro, Ivan Velasquez, Fidencio Valencia, Velasquez, General Carlos Rincon, Hope, Wilson, gaunt, Manuel Ranoque, San Jose del Guaviare, Carolina Pulice, Luis Jaime Acosta, Nelson Bocanegra, Oliver Griffin, Jamie Freed, Andrea Ricci Organizations: Twitter, Cessna, Thomson Locations: BOGOTA, Caqueta province, Bogota, Araracuara, Caqueta, San Jose, Guaviare

☆ Nubank to hike Colombia investments by $160 million by 2025
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, May 31 (Reuters) - Brazilian digital bank Nubank , Latin America's biggest fintech company, will invest up to a further 700 billion pesos ($159 million) in its Colombian operations by 2025, its financial director for Colombia said on Wednesday. The additional sum, from the bank's own resources, will raise its investments in its third largest market behind Brazil and Mexico to 2 trillion pesos. Nubank has 635,000 credit card customers in Colombia, equivalent to a 3.6% market share. It has some 80 million clients in Brazil, Mexico and Colombia. Nubank reported a net profit of $142 million in the first quarter, swinging from a year-earlier loss of $45.1 million as its customer base grew.

Persons: Felipe Castellanos, Nubank, Nelson Bocanegra, Oliver Griffin, John Stonestreet Organizations: Thomson Locations: BOGOTA, Colombia, Brazil, Mexico, Bogota, Nubank

☆ Colombian president asks cabinet to resign ahead of reshuffle - sources
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, April 25 (Reuters) - Colombia's President Gustavo Petro has asked his cabinet ministers to resign ahead of a reshuffle, two sources told Reuters late on Tuesday, as the leftist leader said he had lost his majority coalition in Congress. "The political coalition agreed as a majority has ended today due to decisions of some party presidents," Petro said in a message via Twitter late on Tuesday. Petro has largely backed his ministers, including Velez, though disagreement over the health reform proposal already lead to the exit of the education minister, Alejandro Gaviria. Interior Minister Alfonso Prada could be take over as defense minister, said one government source who declined to be identified. Others, including Velez, could hold on to their posts, the source said.

☆ FARC dissident group says to start peace talks with Colombian government in May
▼ + stars: | 2023-04-16 | by ( Julia Symmes Cobb | ) www.reuters.com time to read: +2 min

BOGOTA, April 16 (Reuters) - Dissident FARC rebels who rejected a landmark peace agreement in 2016 said on Sunday they are ready to set up a dialogue with the government on May 16 to begin peace talks to bring their group, the Estado Mayor Central (EMC), out of the armed conflict. The group, made up of 3,530 people - 2,180 combatants and 1,350 auxiliaries - has maintained a bilateral ceasefire with the Colombian government since the beginning of the year. The other dissident FARC faction is the Segunda Marquetalia, which in August 2019 returned to the armed struggle, claiming that the state failed to comply with the peace agreement. Petro's government reestablished peace talks with the rebels of the National Liberation Army (ELN) and the two parties seek to advance towards a bilateral ceasefire agreement in a third round of talks to begin soon in Cuba. Reporting by Julia Symmes Cobb, Additional reporting by Nelson Bocanegra Editing by Drazen Jorgic and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Death toll from Colombia coal mine explosion climbs to 21
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, March 16 (Reuters) - Ten miners reported missing after an explosion caused by accumulated gas in coal mines in central Colombia have been found dead, raising the death toll to 21, authorities said on Thursday. The explosion in several adjoining coal mines took place late on Tuesday in a rural area of Sutatausa, about 75 km (46 miles) north of Bogota. Serious accidents are common at open pit and subterranean coal and gold mines in Colombia, mostly at illegal or informal operations and those without proper safety measures. There were 117 accidents at mines in Colombia last year, according to the agency, killing 146 people. The deadliest recent accident was in June 2010, when 73 people were killed in a mine explosion the northwest.

☆ Hostages taken by anti-oil firm protesters in Colombia are freed
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, March 3 (Reuters) - A group of 88 police officers and employees of oil firm Emerald Energy taken hostage in Colombia amid a deadly protest against the company have been freed, Colombian President Gustavo Petro said Friday. Rural and indigenous protesters also took 79 police officers and nine Emerald employees hostage, blocked access to an oil field, and set a fire to demand the company fix roads in the area, authorities said. Petro confirmed the hostages had been freed Friday, calling on investigators to find those responsible for the deaths. Emerald Energy did not immediately respond to a request for comment. Reporting by Nelson Bocanegra; Writing by Kylie Madry; Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

☆ Colombia, Bolivia to ask UN to remove coca leaf from narcotics list
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Claudia MoralesBOGOTA, Feb 22 (Reuters) - Colombia and Bolivia will jointly ask the United Nations Commission on Narcotic Drugs to remove coca leaves from its list of prohibited substances and accept the plant's traditional uses, Colombia's government said on Wednesday. "Bolivia and Colombia consider it is the moment to once again put this issue on the table," she said. "To remove the coca leaf - the leaf, not cocaine - from the prohibited substances list." Coca leaves are widely used in different countries in Latin America, especially by indigenous groups, to treat stomach aches and altitude sickness, among other ceremonial uses. Bolivian President Luis Arce said in January his government would push for coca leaves to be removed from the list so they can be commercialized, after his predecessor Evo Morales decriminalized coca nationally.

☆ Mexico's Lopez Obrador orders ministry to step up lithium nationalization
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Feb 18 (Reuters) - Mexican President Andres Manuel Lopez Obrador on Saturday signed a decree handing over responsibility for lithium reserves to the energy ministry, after nationalizing lithium deposits last April. During an event in Sonora, Lopez Obrador signed the decree that orders the energy ministry "to take the actions necessary to carry out" the nationalization process. It also declares 234,855 hectares (907 square miles) in Sonora as a mining zone known as Li-MX 1. "(Let's make) the nation be the owner of this strategic mineral," Lopez Obrador said during the event. Mexico holds important potential lithium deposits, a highly sought material for the production of electric vehicle batteries.

☆ Wildfires in Chile raise 'great concern', says minister
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

Feb 18 (Reuters) - New and reactivated wildfires in south-central Chile are causing great concern in populated areas, the country's Interior Ministry Carolina Toha said on Saturday, as some have destroyed buildings and left at least three people severely injured. Speaking at a briefing, Toha said that fires in the region of Biobio and Araucania have left a school and a church completely burned. As winds spread across the region, fires restarted again on Friday, she added. So far, the country has 256 active fires and 151 controlled fires, the minister said, adding that the main concern is that some of the active fires could move to "highly populated areas." "The appearance of new outbreaks is cause for great concern," she said.

☆ Colombia central bank set to raise interest rate one last time
▼ + stars: | 2023-01-27 | by ( Nelson Bocanegra | ) www.reuters.com time to read: +1 min

BOGOTA, Jan 27 (Reuters) - Colombia's central bank board is set to raise its benchmark interest rate at its meeting on Friday, in a final attempt to control high inflation, and in spite of slowing growth predicted for this year. In any of the three scenarios the interest rate would be the highest it has been since November 1999. Analysts said the top argument for policymakers to raise the rate is a 24-year inflation high. The policymakers have increased the rate by a total of 1,025 basis points since the tightening cycle began in September 2021. Analysts have predicted the board will begin cutting the rate mid-year, taking it to 11% by the end of 2023 and 7% in 2024.

☆ Colombia, Ecuador agree joint plan to tackle organized crime on border
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Daniel TapiaBOGOTA, Dec 28 (Reuters) - The armed forces of Colombia and Ecuador on Wednesday signed an agreement to implement a plan to contain drug trafficking and organized crime on their shared border, authorities in both countries said. Colombia and Ecuador share a porous border that stretches some 586 kilometers and where criminal gangs and illegal armed groups engage in smuggling and drug trafficking. "Efforts currently under our responsibility to eliminate drug trafficking, environmental crimes, smuggling, and other areas will not decline," General Helder Giraldo, the general commander of Colombia's military, said in another statement. The government of Colombian President Gustavo Petro in November called on countries with which it shares a border to work together on a military offensive against illegal armed groups. As well as Ecuador, Colombia shares a border with Brazil, Venezuela, Peru and Panama.

☆ Colombia ELN leftist guerrilla group declares Christmas ceasefire
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Leonardo Fernandez ViloriaBOGOTA, Dec 19 (Reuters) - Colombian leftist guerrilla group the National Liberation Army (ELN) on Monday declared a nine-day unilateral ceasefire over the Christmas period, as part of a bid to support peace talks with the Andean country's government, which urged other illegal armed groups to follow suit. Colombia's government and the ELN last week completed the first cycle of peace talks between the two parties in Venezuela's capital Caracas. The unilateral ceasefire will only apply to Colombia's military and police, the ELN said in a recorded statement, adding it reserves the right to defend itself if attacked. Following the announcement, Colombia's government called on other armed groups also to call a ceasefire. Reporting by Nelson Bocanegra and Oliver Griffin Writing by Oliver Griffin Editing by Alistair BellOur Standards: The Thomson Reuters Trust Principles.

☆ Colombia's central bank set for December rate hike, under pressure for more
▼ + stars: | 2022-12-12 | by ( Nelson Bocanegra | ) www.reuters.com time to read: +2 min

BOGOTA, Dec 12 (Reuters) - Colombia's central bank is set to raise its key interest rate this week at its final meeting of the year and will be under pressure for another hike starting in 2023 as inflation expectations keep rising and economic growth remains at potential, a Reuters poll showed on Monday. In the poll, 13 out of 14 analysts said the central bank would raise benchmark interest rates by 100 basis points to 12% this month, while one projected a rise of half a percentage point to 11.5%. Both the central bank and analysts believe that inflation will return to its long-term target of 3% only by the end of 2024. "Our prevailing forecast is for BanRep to deliver a final 50bp hike in the January meeting". According to the poll's median, the benchmark interest rate is expected to stand at 9.75% at the end of next year and to decline further to 6.25% by the end of 2024.

☆ 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's Nutresa shares down more than 28% after failed public offer
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, Nov 21 (Reuters) - Shares in Nutresa (NCH.CN), Colombia's largest food producer, closed 28.6% lower on Monday following a failed public offer for a large portion of shares in the company. Nutresa shares closed at 38,990 pesos in comparison to a close of 54,600 per share on Friday. An offer for Nutresa shares by Abu Dhabi's International Holding Company (IHC) was declared void after it failed to receive the minimum number of shares. Nutresa's fall helped send Colombia index MSCI COLCAP (.COLCAP) down 3.84% to 1,233.44 points. Shares in Grupo SURA (SIS.CN), Nutresa's biggest shareholder, were down 1.22% to 40,500 pesos per share.

☆ 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.

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