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COLOMBIA: Credit Rating Agencies Praise Country's Growth - Santos

08/03/2017 - 16:47:00 (RTTNews)

(RTTNews) - Colombian President Juan Manuel Santos said Thursday that the main credit rating agencies are praising the country for its economic growth and the overcoming of the external shocks it has recently suffered, such as the fall in international oil prices.

Santos stressed that the credit rating agencies had not lowered the country's grade nor its outlook, and emphasized that investor and international market confidence are intact. Yesterday, the government raised US$ 1.4 billion with a ten-year bond sale, and demand for the securities was four times higher than the amount offered.

Also, the president said that in the final leg of his term there is a recovery in economic indicators, including consumer confidence amid a decline in inflation. The president acknowledged that industry and commerce had a hard first half in 2017, but now show clear signs of recovery.

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