06-2021 Latin American Economy & Business
Economy & Business Report
Colombia loses investment grade with S&P
Coca leaf cultivation (and the associated cocaine production) has reached record levels in Colombia, already the world’s largest producer. The news may sharpen the debate between advocates of long-term socio-economic development and crop substitution programmes (including outgoing President Juan Manuel Santos) and those who favour tougher short-term eradication measures and the old ‘war on drugs’ approach (including the president-elect, Iván Duque).
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