Colombia fiscal committee doubts 2028 rule return, flags 6-point GDP adjustment gap

Colombia's fiscal committee estimates a primary surplus of 2% of GDP is needed to return to the fiscal rule by 2028, requiring an adjustment of six points of GDP. The committee expresses doubt about the feasibility of this adjustment, calling for a more convincing fiscal consolidation path. This raises concerns about Colombia's fiscal sustainability and could pressure sovereign risk premiums and the peso.