Colombian government will reduce its budget before fall in oil

Colombian Finance Minister Mauricio Cardenas announced that his government will cut the nation’s budget on six billion pesos ($ 2,440 million) to ensure fiscal stability before the reduction of international oil prices. The official said the cuts will “implement tough...

Correa: Ecuador is ready for the fall of oil prices

President Rafael Correa said yesterday that his government is ready for the fall in the international price of oil, the main source of export of Ecuador. “We are prepared to face this situation,” the president told reporters in the Ecuadorian Amazon, where it comply...

International oil price drop will not affect Ecuador, according to President Correa

The fall in the oil price in the international market still does not affect the economy of Ecuador, the smallest member of OPEC, said President Rafael Correa . “It’s nothing critical yet and it is not going to fall (the price), at least according to our perceptions,...