Colombian Finance Minister Diego Guevara resigned over budget disagreements with President Gustavo Petro, following the rejection of Petro’s labor reform. Analysts raise concerns about the future of Colombia’s public finances amid political instability. Guevara is replaced by German Avila, but doubts remain regarding his experience and the potential impact on economic stability.

Colombian Finance Minister Diego Guevara resigned on Tuesday due to conflicts over budget cuts, shortly after lawmakers dismissed President Gustavo Petro’s labor reform proposal. His resignation, just over three months into the role, reflects ongoing instability in Colombia’s troubled public finances, as noted by analysts. Guevara announced his decision on X, describing discussions with Petro as “calm and friendly,” without elaborating further.

The resignation of Finance Minister Diego Guevara highlights the challenges facing Colombia’s government amid budgetary disputes and political instability. The appointment of German Avila, with limited experience, is expected to further complicate financial management and raise concerns about economic policies moving forward. This situation may impact public confidence and fiscal planning in Colombia.

Original Source: www.marketscreener.com