Petro Opens Unprecedented Struggle with Issuer in Colombia over Interest Rate Hike

TVN

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In view of his last year in power, Petro decreed by 2026 a historic 23.7% increase in the minimum wage, a measure that, according to analysts, could push inflation upwards.

Bloomberg Linea

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The rise in the minimum wage in Colombia not only had immediate effects on labor revenues, but triggered a chain of macroeconomic impacts that today translate into greater fiscal pressures, an environment of high interest rates and a rise in the rate of government financing, with direct effects on public debt and market behaviour.

tropicanafm.com

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The minimum wage is the minimum wage received by a worker for certain hours of work per day. In Colombia, the minimum wage is set at $1,750,905 plus a transport aid of $249,095, thus the total is 2 million pesos per month. In 2026 workers work 44 hours per week and from 15 July of this year it will be reduced to 42 hours worked weekly. Despite the fact that the Colombian minimum wage rose significantly for this 2026, the truth is that it remains…