Colombia Seeks IMF Talks Amid Fiscal Crisis

President Abelardo De La Espriella said in a Sunday night televised address that he had instructed the finance minister and entire economic team to open IMF talks for a negotiated solution to the crisis. "We all know that the country's fiscal situation is the most critical in our history," he said. Colombia raised its 2027 fiscal deficit target to a record 9.4% of GDP and this year's to 7.2% from 5.3%. Borrowing will rise by more than $10.5 billion this year and is projected at $71.66 billion in 2027, more than double the initial plan. Reuters reported previously unreported technical talks on financing at more favorable rates. The Finance Ministry then confirmed it asked the IMF for an Article IV technical mission. IMF Deputy Managing Director Nigel Clarke visited Bogotá September 25–28, 2026, meeting Vice President Jose Manuel Restrepo, Finance Minister Miguel Gomez, Governor Leonardo Villar and others. The IMF backed a homegrown reform program; a Finance Ministry delegation is due in Washington the following week. Clarke extended condolences after an earthquake. Contested: No factual disputes found. Sources said it is too early to discuss program size and a dedicated staff mission would be needed. No financing arrangement has been announced.