Colombian protests threaten output
Demonstrations against proposed tax reform have spread across the country, with an impact on oil and gas
Colombia’s ailing economy—not helped by falling oil production and Covid-19—has mobilised deadly protests against a proposed government tax hike and raised concerns the country could descend into further violence and unrest. It is far cry from the 2016 peace accord that ended a 50-year armed conflict between the government and revolutionary paramilitary group Farc, and promised to instil lasting change in the country. “Initially, the protest was in response to the tax reform proposal presented by President Ivan Duque,” says Jose Zapata, partner at law firm Holland & Knight. “This initial mobilisation resulted in the withdrawal of the reform. But protests continue to reject rising poverty
Also in this section
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
17 December 2024
Structurally lower GDP growth and the need for a different economic model will contribute to a significant slowdown
17 December 2024
Policymakers and stakeholders must work together to develop a stable and predictable fiscal regime that prioritises the country’s energy security and economy