Colombia’s Debt Surge Hits Record High, Testing Fiscal Promises and Market Patience

2026-01-29 - 13:00

Key Points Colombia’s central government debt reached COP 1,192.6 trillion ($317bn) by December 2025, the highest on record. Most of the rise came from domestic borrowing, where average coupons near 9.39% keep financing expensive. A $4.95bn global bond sale in January 2026 signaled bigger reliance on markets as fiscal debates intensify. Colombia closed 2025 with