Colombia might take up more debt to combat oil losses
Colombia might take up more debt to combat oil losses
Jan 6, 2015 posted by Nat Smith
Colombia might increase foreign debt to combat decreased revenue from crude oil which has seen plummeting prices over the past months, said the country’s finance minister.
The economy has the ability and tools to adjust to the recent drop in oil prices smoothly and without trauma, Finance Minister Mauricio Cardenas told weekly Semana.
The minister went on to insist that Colombia’s economy can handle increased debt as oil prices run below their long-run level.
Increased foreign debt will help to fund infrastructure and social projects planned for 2015 which may have been otherwise affected by a decrease in oil revenue and GDP growth forecast.
More:
http://colombiareports.co/colombia-might-take-debt-combat-oil-losses/
