Colombia Considers Fiscal Rule Escape Amid Economic Unrest

Colombia is mulling over the use of an 'escape clause' to temporarily halt its fiscal rule. This strategy, born in 2011 to safeguard public finances, faces scrutiny and could unsettle markets already wary of President Petro's economic strategies.

The Colombian government is contemplating invoking an 'escape clause' to temporarily suspend its fiscal rule, according to information from a source and local media on Thursday.

Enacted in 2011, the fiscal rule was designed to provide policy guidelines that curb the erosion of public financial health.

The potential suspension of this rule could perturb financial markets, which are already apprehensive about President Gustavo Petro's approach to economic governance.

(With inputs from agencies.)