Colombia and Panama will hold new negotiations on tax information-sharing this week to combat fraud and money laundering, Colombian Finance Minister Mauricio Cardenas said on Tuesday, amid revelations by the Panama Papers about secretive offshore finance.
Despite being among the top 10 oil producers, their gasoline reserves are expected to last only two days if put to the test, Pemex are being put to blame.
Several multi-nationals have terminated operations in Colombia since 2015 amid an ongoing economic downturn in the South American country.
Colombia’s state-run oil company Ecopetrol lost $1.2 billion in 2015 mainly because of dropping global oil prices, the company said Monday.
Sura Asset Management, a unit of Colombian financial conglomerate Grupo Sura, and Peru’s Credicorp Capital signed an agreement Tuesday to create a 1.3-trillion-peso ($400-million) investment vehicle that will provide financing for the construction this year of up to five fourth-generation highways in Colombia.
Colombia’s government sold its 57.6% stake in energy company Isagen to Canada’s Brookfield Asset Management for $1.99 billion, the finance minister said on Wednesday.