Agriculture, tax reforms at risk after Colombia’s ‘no’ vote

Lourdes Casanova, academic director of the Emerging Markets Institute at Cornell University’s Johnson School of Business, is available to comment on the economic repercussions of the weekend’s referendum in Colombia.



Casanova says:

“The Colombian government’s plan to develop the agricultural sector to its potential is now on hold, and so are natural resources in the areas controlled by the guerrilla. Unless a deal is agreed on, the presence of the guerrilla will continue to slow necessary plans to develop those areas.

“President Santos’s political influence has obviously been weakened. It will be more difficult for him to introduce the necessary economic measures, such as tax reform.

“The results of the Colombian plebiscite have brought uncertainty to the country. They have already weakened the Colombian currency as well as the stock market. Hopefully, they will not cause Colombia to lose its cherished investment grade status.”


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