(Bloomberg) -- Colombia’s congress approved an increase in the nation’s debt ceiling, dispelling the risk that the nation might be unable to service its foreign loans.

The senate and the lower house voted to increase the debt limit by $17.6 billion on Thursday, the last day of the 2023–2024 legislative period.

President Gustavo Petro last month warned that the government might be forced to cease payments if lawmakers refused to approve the bill.

 

 

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