The Colombian government has begun implementing a financial strategy that could reduce the country’s historic dependence on the U.S. dollar. The measure consists of diversifying external public debt into other currencies, especially the euro, with the goal of reducing the impact that fluctuations in the U.S. currency have on the nation’s finances.
The decision comes amid an international environment marked by exchange-rate volatility, pressure on emerging economies, and rising public debt. According to the Ministry of Finance, excessive dependence on the dollar makes…