US EditionGustavo Petro Declares Economic, Social Emergency in Colombia
16 Articles
16 Articles
Colombia: Petro declares 30-Day “economic emergency”
In a move to bypass Congress on his proposed tax hikes, Colombian President Gustavo Petro declared a 30-day 'economic emergency' on Tuesday. The measure, enacted via Decree 1390 of 2025, grants the head of State extraordinary powers for 30 days to circumvent Parliament and impose new taxes on the country’s wealthiest citizens.
The president of Colombia declared a state of economic emergency for 30 days, after Congress sank the tax reform that sought to raise more than 16 billion pesos for the budget of 2026.
The president of Colombia, Gustavo Petro, declared “a state of economic and social emergency” after Congress blocked his attempt to increase taxes. Petro defended before the decree was published the declaration of the economic emergency and argued that Colombia has “a primary deficit in public finances” since the government of President Juan Manuel Santos (2010-2018). “The conditions of the emergency for this fact are evident, and if the Constit…
On Wednesday Gustavo Petro, president of Colombia, declared a state of economic, social and ecological emergency, due to a financing crisis for the 2026 budget, aggravated by the collapse of the financing laws in Congress and the need to cover a fiscal deficit. Authorities mention that the country faces the most severe fiscal crisis in its recent history, with a debt that reaches 61% of the Gross Domestic Product (GDP). It is that under the prot…
The president of Colombia, Gustavo Petro, announced a “vital” minimum wage for 2026, assuring that he will allow workers “to recover purchasing power”, a day after decreed the economic emergency due to Congress’s refusal to the Financing Law. The president advanced this initiative during a speech to the nation retransmitted on the occasion of the Christmas holiday, in which he stressed that the Latin American country will count “for the first ti…
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