COLOMBIA

Petro clashes with Colombia’s central bank

Banco de la República, Colombia's central bank. Photo: CC BY 2.0

The decision by BanRep, Colombia’s central bank, to raise the benchmark interest rate by a striking 100 basis points to 11.25% has sparked a constitutional battle with Gustavo Petro's government, just weeks before the country’s presidential election.

The majority board decision was driven by…

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