Congress Said No, So Colombia Raised Taxes By Decree — And Everyone Pays

Key Points Colombia is raising taxes by decree after Congress blocked financing bills and the budget gap widened. The package aims for COP 11 trillion (about $2.9 billion) toward a COP 16.3 trillion hole (about $4.4 billion). Everyday prices, cross-border shopping, banks, and oil-and-coal cash flows are all in the blast radius. Colombia’s government has […]