2024-09-28 00:27:26
Seeking to adjust diesel prices and close the gap with international values, the Minister of Finance, Ricardo Bonilla, stressed that this measure has a broader objective: to transform the country’s mobility.
The plan includes strengthening the railway system and reviving railways nationwide, as a complement to the service currently provided by the trucking sector.
The strengthening of trains in Colombia not only responds to a need for modernization in mobility, but is also part of the strategy to improve the country’s energy supply. In that sense, Bonilla highlighted that Colombia could increase its solar energy capacity by six gigabytes in the next three yearsa significant advance for the country in its transition towards renewable sources.
In addition, the minister announced that the Government is considering the possibility of “developing larger experiments in hydrogen”, a commitment towards innovation in clean energy that could position Colombia on the map of the global energy transition.
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However, the fuel outlook in Colombia continues to be a challenge in fiscal terms.. The deficit of the Fuel Price Stabilization Fund (FEPC) for this year is estimated at a figure close to USD 3,000 million, which is equivalent to the payment that the country must make to the International Monetary Fund (IMF) in 2025.
In this context, Bonilla reported that government officials held a meeting with the IMF in New Yorkfrom which three key messages emerged. The first was that the flexible credit line of USD 5.4 billion, disbursed in 2020, will be fully paid in 2025. Secondly, the possibility of having the support of the IMF to manage fresh resources that allow improving interest rates was discussed. of the country.
The third key message was the possibility of the IMF issuing special drawing rights in coordination with the UN. This measure is directly related to Colombia’s commitment to the climate agenda, an international process that seeks to help decarbonize the economy.
In line with the climate agenda, Minister Bonilla emphasized that Colombia faces a new challenge: how to manage the mining space available to produce renewable energy. In this sense, he called to promote the search for minerals that contribute to the energy transition, a key step to comply with international commitments to reduce emissions and decarbonization.
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