Restrepo warns of fiscal crisis and default risk if Congress does not pass the tax reform

FinanceColombiaVanguardiaNov 11, 2026, 12:20 PMAI summary

Vice President José Manuel Restrepo asked Congress to decide before April 2027 on the future of the government's tax reform, warning that the lack of new resources could push the country into a public finances crisis. Speaking at ANIF's General Assembly in Bogotá, he said Colombia could reach a default scenario, that one million more people would fall into poverty and that inflation would rise, even to hyperinflation levels.

In 35 seconds

Restrepo asked Congress to move forward on the tax reform before April 2027.
He warned that without decisions on revenue the country could reach a default scenario.
According to his projections, one million more people would fall into poverty and inflation would rise, even to hyperinflation levels.

Read the full story at Vanguardia

IASummary generated by artificial intelligence from a story by Vanguardia. It may contain errors: the original source prevails.

reforma tributaria
déficit fiscal
deuda pública
Congreso
ANIF

Comments

Be respectful. Comments reported by several people are hidden until a moderator reviews them.

You do not need an account to read, only to comment. Sign in with a code sent to your email or with your Google account. We only show the name you choose, never your email.

Keep reading

National Government delivered stands to merchants in Roldanillo to reactivate their sales
The National Government delivered containers around Roldanillo's main square and spaces at the Coliseo de Ferias so merchants affected by the earthquake can offer their services temporarily. The investment included public and private sector contributions, with participation from the Valle Governor's Office, the Mayor's Office, Propacífico and Bavaria. According to Valle Tourism Secretary Miyerlandi Torres, the emergency affected more than 790 businesses and each merchant is estimated to have stopped receiving more than 110 million pesos.
FinanceColombiaEl País (Cali)12:17 PMAI
CESA study: people over 55 will drive Colombia's economy toward 2042
A CESA study led by professor Enrique Gilles projects that by 2042 people over 55 will make up 27% of Colombia's population, up from 18% in 2018. Their consumption, which in 2018 generated added value equivalent to 10.9% of GDP, would reach 18.7% in 2042. The research also analyzes the regional impact of this spending and the effect of improving the group's income.
FinanceColombiaEl País (Cali)12:11 PMAI
Vice President Restrepo warns Colombia would enter crisis in early 2027 without fiscal adjustment
At Anif's General Assembly, Vice President José Manuel Restrepo warned that if an adjustment to public finances is not carried out, Colombia would enter a fiscal crisis around the first quarter of 2027. He said that scenario would mean more than one million additional people in poverty, inflation or hyperinflation, over-devaluation, falling growth and limited access to financial markets. He stated that the cut proposed in the Economic Rescue Law equals three times what was executed in previous years and criticized the fiscal management of Gustavo Petro's government.
FinanceColombiaEl Tiempo11:03 AMAI
Finance Minister says Colombia has "an economy doped by public spending"
Finance Minister Miguel Gómez Martínez defended the Economic Rescue Law at Anif's general assembly and said "the nation has an economy doped by public spending." He criticized that the largest tax expenditure in the country is VAT, the backbone of the bill, and argued that Colombia has the highest number of exemptions and deductions, which complicates the tax system. He recalled that the country passed a tax reform every 18 months since 1991 and said the focus is on seeking more resources instead of improving spending.
FinanceColombiaRevista Semana10:42 AMAI

Restrepo warns of fiscal crisis and default risk if Congress does not pass the tax reform

In 35 seconds

Comments

Keep reading

National Government delivered stands to merchants in Roldanillo to reactivate their sales

CESA study: people over 55 will drive Colombia's economy toward 2042

Vice President Restrepo warns Colombia would enter crisis in early 2027 without fiscal adjustment

Finance Minister says Colombia has "an economy doped by public spending"