Will a Fiscal Miracle Happen in Colombia?
A rising fiscal deficit needs decisive action from De La Espriella’s government to avoid further economic complications, an expert writes.
BOGOTÁ—In Colombia, everything now seems to have a miracle-themed nickname: “miracle week” with foreign investors, “miracle housing,” “miracle reconstruction fund,” and so on. But for any of these to materialize, trust is essential, and given the country's precarious fiscal situation, something extraordinary needs to happen. President Aberlardo De La Espriella is trying to put the house in order, but the country of miracles faces a serious structural fiscal problem that will likely define his administration. Colombia ended last year with a fiscal deficit of 6.4% of...
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