Government plans for Ecopetrol, Monomeros and Colpensiones

The finance minister, Jose Antonio Ocampo, revealed what are the economic expectations it has the Colombian Government by 2023. SIt is expected, for example, a drop in inflation and also in interest rates.

(See: ‘Neither feet nor head’: Ocampo on Jaime Dussán’s statements).

In addition, the head of the portfolio indicated what will be the future of three important companies for the country in different sectors: Ecopetrol, Monomers and Colpesions.

Ocampo said that The Government studies the possibility of buying Monomersby the amount of food imports that the country is doing.

“We cannot become large importers of corn. That is a national shame. There are plans to make us less dependent on imported corn, as well as soybeans and other foods,” stressed.

(See: By 2023 the increase in the price of gasoline will accelerate, Ocampo said).

The idea is that Colombia produce more fertilizers, on a large scale, in Monomers.

“There is the possibility of buying Monomeros. You have to see the cost and whether there are legal problems with the United States so that Monomeros can operate without legal restrictions. It could be partly bought by Ecopetrol and partly by private investors who would be interested in being partners” , exposed the minister.

On the future of the energy sectorthe minister indicated that there will be a strictly energy transition, but maintaining oil export, at levels that allow us to have the foreign exchange that the country needs.

(See: Ecopetrol broke historical record of crude load in its refineries).

In the case of Colpensiones, Ocampo added that the idea with the pension reform is to give an income to all old people that they do not have a pension, especially the poorest and that not all workers would be in Colpensiones.

“Colpensiones would have some workers up to a certain salary level, which will have to be defined. Above that there will be pension funds, but there could also be a public entity eventually participating in the capitalization system, which will now be complementary to Colpensiones. These funds should follow applicants for government debt securities, an essential issue for public finances”, pointed out.

(See: Fiscal responsibility rulings issued against Ecopetrol’s Bioenergy).

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