Petro Warns of Emergency Decree If Tax Hikes Fail in Congress

Colombia’s government will submit a financing bill with tax measures to Congress as soon as possible to offset the central bank’s interest rate increases, President Gustavo Petro said in a televised address.

• Petro said the government would declare another economic emergency if tax measures fail to pass Congress
• The country’s wealthiest citizens must pay for the fiscal crisis, he said
• Colombia will ban meat exports to prevent further increases in food prices: Petro
• The government will also halt fertilizer exports and provide subsidies to curb food price shocks
• Petro’s administration is going to extend loans to small and medium-sized businesses ...