The Comptroller delivered a fiscal balance in which he raised his concern about the debt unsustainability. But he also sent a letter directly to finance ministerGermán Ávila, detailing this warning, for which it would be summoned to political control debate in Congress.
In the document, known as EL TIEMPO, it is alerted by the high real interest rates in the face of moderate rates of economic growth and persistent primary deficits. This cocktail, points out the Comptroller delegate of Public Finances, Jenny Lindo, generates concerns about future payment of this liabilities of the National Government.
In fact, according to their data, this amount went from an appropriation of 100.4 billion pesos in 2026 to 149.9 billion pesos in 2027that is to say, increased 49.3%.
Jenny Lindo, delegate of the Comptroller’s Office for Public Finances. Photo:Comptroller
“The market conditions that allowed the nominal value of the debt to be reduced with the TES delivered also determined higher interest rateswhich will have a impact on debt service in subsequent periods, generating a additional budget inflexibility“, warns the control entity in the document.
The report of the Delegate Comptroller’s Office concludes that, so far in 2026, the Government has had to pay interest on the titles delivered in the exchange operations to higher rates.
And, compared to the titles of public debt for the payment of TES B coupons, warned that “there is a risk due to the increase in the value of future obligationsdue to higher interest payments from the fiscal year 2026 and in the following years.”
That is, the next government I would not only receive the ‘scraped pot’but I would have to allocate more resources to pay these obligations (inflexible spending).
Letter from the Comptroller’s Office to Minhacienda Photo:Archive
In fact, as in the TES B exchanges have been used short term securitiesthis operation although directly impacts the 2026 box by reducing payments due to bond maturities, increases interest payments.
“For the above reasons, the present warningin response to the detection of risk of negative impact on property interests of a public nature described above, in the exercise of the special tax surveillancein order to protect public resources and minimize negative social and economic impacts observed,” the entity concludes in the letter.
The political control debate
In dialogue with EL TIEMPO, the Deputy Comptroller Lindo She assured that Congress contacted her this Wednesday to deliver the reports with which she supported the warning initiated against finance minister. According to the official, it is highly probable that in the coming weeks the portfolio manager will be subject to political control in the Legislature, following the economic situation with which the country is left Petro government shutdown.
“They are very concerned about the issue of debt service and the low budget execution which we present this Tuesday in the balance sheet. It is clear that the public debt has increased too much. In 2025, debt service payment was at 105 billion. However, for 2027 it is planned to pay 150 billion for this concept. This represents a 49% increase. What effects does this have? That, to the extent that a State becomes increasingly indebted, income does not grow, and what is generating this situation is a internal pressure within the country’s budget very critical“Lindo explained.
Comptroller Carlos Hernán Rodríguez. Photo:Comptroller
Sara Valentina Quevedo and Jhoan Sebastián Cote – Justicia Editorial
