THE REPUBLIC of Colombia, at risk of losing its investment grade rating from Moody's and appalled by the level of its spreads, has decided to cut back on how much it will tap the international markets next year. Juan Camilo Restrepo, minister of finance and public credit, told investors in New York that the country will tap the markets for only $1.3bn and go to multilateral agencies for another $1bn.
October 09, 1998