Colombia Congress’ 3rd key fiscal reform aimed at saving surplus oil and mining revenues

The Colombia’s Congress just passes a new fiscal reform. The goal of this reform is to save money during boom time. Indeed, this rule enables the government to create an overseas fund in order to invest the resources. This fund will be administrated by the central bank. This reform will allow Colombia to reduce public debt and the impact of a negative shock.

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Colombia’s Congress passes 3rd key fiscal reform