Colombia manufacturing PMI increased to 52.6 in April 2023 from 51.5 in March, marking a second consecutive month of expansion in the country’s factory activity and reaching a seven-month high. Meanwhile, the Colombian peso dropped around 0.4% on Tuesday amid falling oil prices. New finance minister Bonilla sought to bolster traders’ confidence by reaffirming his commitment to upholding the fiscal rule and reducing the fiscal and current account deficits.