Colombia's Finances Declared 'Unsustainable' by IMF — The Picture for Colombians Sending Money Home

COLOMBIA-ECONOMY-CURRENCY-DEVALUATION A man counts one hundred US dollar bills as Colombian peso bills remain on a table in Bogota - Colombia, like other countries around the world, is enduring high inflation, as well as an historic devaluation of the peso against the dollar. This is due to both international and local factors according to experts. (Credit: Photo by Daniel MUNOZ / AFP) (Photo by DANIEL MUNOZ/AFP via Getty Images)

The Briefing:

• The IMF declared Colombia's public finances unsustainable on October 16, citing a primary deficit of 3.5% of GDP and public debt at 59.9% of GDP — both still rising.
• Finance Minister Miguel Gómez initially projected the 2026 deficit at 8.2% of GDP; his current target — with corrective measures — is 7.2% of GDP, versus the 5.3% projected by the previous Petro government.
• Energy consultancy Óptima Consultores placed Colombia's firm-energy gap at 7,669 GWh for the 2026–2027 cycle — roughly 7.7% of projected national demand — a day before the IMF warning; grid operator XM's September bulletin had separately cited a 7,207 GWh shortfall.
• Colombia's remittances hit a record $13.1 billion in 2025; with the United States supplying 53% of that total, daily inflows from all sending countries have climbed toward $40 million in 2026.