Key Facts
—The headline. Colombia’s external debt fell to 51.6% of output in April, from 53.7% a year earlier, a level last seen in May 2020.
—The catch. Measured in dollars the stock rose from $227.9bn to $247.7bn, an increase of nearly $20bn, or 8.7%.
—The cause. The peso has strengthened sharply, which lifts the country’s output when converted into dollars and shrinks the ratio without shrinking the debt.
—The currency. One dollar bought 3,339 pesos on Thursday, the fewest in about six years, against more than 3,700 in January.
