Finance Minister Resigns

February 2007 | Ratings Update

Despite President Uribe's best efforts, Colombian Finance Minister Alberto Carrasquilla tendered his resignation in February, citing personal reasons. Uribe has urged Carrasquilla to reconsider, praising his economic performance, which has helped Colombia grow on average by 5.1% since 2003. However, this appears an unlikely scenario. Carrasquilla's resignation represents an unexpected but hardly surprising development. The finance minister has often been at odds with Uribe over economic policy, and had even previously alluded to leaving the cabinet following the approval of the government's latest fiscal reform package. We expect Carrasquilla's replacement to come from within the

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