Álvaro Uribe warns of an ‘exaggerated’ rise in the price of the dollar

For the first time in the records we have, the dollar reached $4,900. The value against the local currency keeps different sectors on the lookout for the impact it will have directly on the pockets of ordinary citizens.

although before Finance Minister himself, José Antonio Ocampo, had given a message of calm to the markets, the escalation has continued in recent days.

Look: Colombia: Uribe accepts dialogue with Petro, his opponent

“We are going to have a responsible macroeconomic policy, we are going to comply with the Fiscal Rule, there are going to be no exchange controls, we are going to diversify exports (…) guarantee that the country has a good volume of exports and, therefore, the capacity to sustain a solid balance of payment commented.

“There has been a lot of uncertainty, but we hope that in the coming days the markets will begin to calm down,” he added.

‘Let there be a reflection’: Uribe

The rise, which is motivated by various international and national reasons, has the opposition of President Gustavo Petro harshly criticizing the upcoming policies. The Democratic Center party has questioned the work of the Minister of Mines and Energy and has even called for her immediate resignation.

“The Petro decisions executed by its minister Irene Vélez to prohibit oil and gas (which are the first income of the State and the first exports of the country) have sent the dollar skyrocketing,” said Senator Paloma Valencia.

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A post shared by Álvaro Uribe Vélez (@alvarouribevelez)

The head of his community, Álvaro Uribe, also gave his perspective on what he described as “exaggerated rise”since, according to him, it truncates some plans and dreams of Colombians.

“It forces many citizens to abandon the dream of having their own home because the price has increased, to give up saving for a vacation plan because the travel agency told them that the dollar forces a much higher price, not to buy a tablet that the son needs for college,” he said in a video.

“Let there be a reflection,” he sentenced in the middle of a worrying tone.

The opposition can criticize but we have the right to defend ourselves from lies.

The one who raised Colombia’s debt was the president that you supported and that Paloma chose.

In no part of the country has oil or gas been prohibited, they will continue to be produced normally. https://t.co/D7TpFBWvTr

– Gustavo Petro (@petrogustavo) October 20, 2022

The president’s response to the accusations

President Petro denied Senator Valencia’s version: he assured that there is no prohibition of oil exploration contractscoal and gas, because “they continue normally”.

“The opposition can criticize, but we have the right to defend ourselves against lies. The one who raised Colombia’s debt was the president that you supported and elected, Paloma”, replied the president.

How could the US compensate for the economic stagnation caused by its internal monetary policy that raises interest rates and empties the world of capital?

1. It could exercise leadership in the IMF to lower debts in exchange for investment in decarbonized economies. https://t.co/b03MffMKbe

– Gustavo Petro (@petrogustavo) October 20, 2022

This pronouncement was supported by Minister Vélez, who added that all the guarantees for the explorations will be given. Proof of this, she said, is that daily oil production has increased since August 7.

Also, Petro took the opportunity to ask the United States to seek to compensate “the economic stagnation caused by its internal monetary policy that raises interest rates and empties the world of capital.” through, for example, the reduction of debts in the International Monetary Fund or “by slowing down the growth of the profitability of cocaine in Colombia.”

Source: Elcomercio

Ronald Payne

I, Ronald Payne, am a journalist and author who dedicated his life to telling the stories that need to be said. I have over 7 years of experience as a reporter and editor, covering everything from politics to business to crime.