Tensions between Banrep and government ease before elections
Recent ruling by Colombian court further enhances central bank’s independence
Tensions between the Central Bank of Colombia (Banrep) and the government have eased in recent weeks, ahead of upcoming presidential elections on May 31 and an expected run-off election on June 21.
The return of finance minister Germán Ávila to the central bank’s board of directors at a monetary policy decision on April 30 signalled a degree of normalcy after weeks of government pressure over tighter policy. The central bank’s board is set to meet again today (May 29) in an “ordinary meeting”
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