Colombia seeks IMF deal amid fiscal crisis

Colombian President Abelardo de la Espriella has ordered the Finance Ministry to begin talks with the International Monetary Fund (IMF) to negotiate a way out of the crisis in the country's public finances, according to the portal Banca y Negocios on September 28, 2026.

The IMF is a multilateral institution that lends resources to member states facing serious balance-of-payments or illiquidity problems, usually in exchange for austerity requirements, public spending cuts and structural reforms. In a televised address, the president said the state is overdrawn and that current revenues do not cover operating costs and debt payments.

According to information published by Banca y Negocios, Colombia's public debt stood at 60% of gross domestic product (GDP) at the close of the first half of the year, while the official forecast for the fiscal deficit was 7.4%.

These fiscal pressures come at a complex moment for the state's accounts, marked by the need to meet inherited financial obligations and the challenges of economic reconstruction after recent events in the region.