Moody’s anticipates Colombia’s fiscal deficit will exceed the government’s earlier estimate of 5.3% of GDP. Analysts point to a challenging fiscal outlook with potential increases in the debt-to-GDP ratio, attributed to higher interest payments amid volatile currency and slow-declining interest rates. Changes in Colombia’s credit rating would likely begin with an adjustment in outlook due to these fiscal pressures. Meanwhile, the Colombian peso weakened by nearly 6% in June, falling below 4,00 per USD.