Colombia plans to secure USD 5.5 bln in overseas financing in 2024, comprising USD 2.5 bln from bond sales and the remainder from multilateral loans, bypassing the IMF’s FCL. Domestically, Colombia aims to borrow COP 53.4 tln, with COP 37 tln auctioned locally. The fiscal deficit is projected at 5.3% of GDP, increasing from 4.3% in 2023, with the primary deficit expected to widen to 0.9% of GDP. The finance minister anticipates the monetary policy rate to decrease to around 8%, with end-year inflation expected at 6%.