British News Agency

Colombian President Petro said, “There is no surplus liquidity in Colombia; on the contrary, there is a large shortfall and the Central Bank must expand it. This liquidity gap is preventing credit from spreading throughout society. If credit is only given to property owners, the country’s inequality will become entrenched.”

Petro noted that families in Colombia have low saving capacity and that most of the population earns only enough to get by. He indicated that most savings are in pension funds and that it is appropriate to gradually bring these resources into the economy.

The president pointed to the small size of the capital market and said, “All policy should expand and democratize this market. Growing Colombia’s capital market will strengthen our productive capacity.”

Petro said inflation is driven by food prices, noting that much of the productive land is used for livestock and that agricultural output is inadequate. On agrarian reform and land distribution, Petro said, “A 1 million‑hectare fund was established and 300,000 hectares were delivered to farmers.”

The Colombian president also said that electric vehicle production and industrial policies have reduced urban traffic and environmental impacts: “We want to make Colombia the electric vehicle export hub of Latin America. In doing so, employment and economic growth will increase.”

Petro stressed that these policies have helped reduce inflation in Colombia and that more still needs to be done.