The major economic challenge facing Abelardo de la Espriella when he assumes Colombia’s presidency on Friday will be stabilising the public finances after years of fiscal largesse under outgoing President Gustavo Petro. While a fragmented congress will probably limit the scale of the fiscal tightening that he’ll be able to deliver, fiscal policy is still likely to be tighter than it is currently. That should help to ease inflationary pressures and pave the way for substantial monetary easing next year.
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