Colombia’s Debt Puts De la Espriella at Odds With Petro
Public debt became the new battleground between President Abelardo de la Espriella and former President Gustavo Petro. In a presidential address broadcast yesterday, Sunday, the president directly blamed the previous administration for the fiscal situation he found when he took office and said that much of the problem was the result of the “waste” and […]
President Abelardo de la Espriella and his predecessor Gustavo Petro are engaged in a heated dispute over the country's debt. In his presidential address, De la Espriella directly blamed Petro's administration for the fiscal crisis he inherited, accusing the former president of "waste" and "corruption." Petro rejected these accusations, defending his administration's economic management and stating he would seek the right of reply to address the allegations.
The dispute centers on differing accounts of Colombia's debt and the state of the nation's finances. During his address, De la Espriella presented a "budget of truth" for 2027, claiming he received a "lamentable" state of public finances upon taking office. He alleged that nearly 50% of the 2027 budget would need to be financed through debt, with debt servicing reaching 155 trillion pesos (around US$50 billion) in that year.
De la Espriella announced an austerity program worth nearly 17.4 trillion pesos (approximately US$5.6 billion) to address the fiscal situation. Petro responded from his X account, announcing he would request a right of reply. He denied the accusations of corruption against his administration and maintained that his government reduced the level of indebtedness.
He also defended his administration's investments, employment growth, poverty reduction, and decline in hunger.
Written by urgent.news from Colombia One's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
