Colombia’s Finance Minister, Miguel Gómez Martínez, met World Bank officials on the morning of Friday 13 November 2026 to present his government’s Rescue Law, a bill meant to close a deep budget gap, known in Spanish as the Ley de Rescate. He thanked the bank’s vice president for Latin America and the Caribbean, Susana Cordeiro Guerra, and called the bank “a great ally” in Colombia’s effort to escape its “fiscal hole”.
The meeting matters to US investors because passing the bill, which Congress must decide before 16 December, is one test of how lenders will see Colombia’s public finances. No loan, figure or agreement from the meeting has been announced.
What Did the Minister Say?
“The World Bank has been a great ally and will remain one in this effort by Colombia to climb out of the fiscal hole,” Gómez wrote on X after the meeting. He thanked the bank and its vice president for the talks on the Rescue Law.
His post did not describe what was discussed. The finance ministry has not announced any financing.
A branch of the Banco de la República, Colombia’s central bank, in Barranquilla. File photo. Photo: Jdvillalobos, CC BY-SA 4.0, via Wikimedia CommonsWhat Is the Rescue Law?
The Rescue Law (Ley de Rescate Económico) is a 106-article bill built on five pillars. It would cut 2027 spending by about 2.2% of GDP, roughly 40 trillion Colombian pesos (COP), or about US$12.1 billion at 3,302 pesos per dollar on 13 November.
Vice President José Manuel Restrepo has said that about seven of every ten pesos of the effort would come from the state itself. The conservative government of President Abelardo de la Espriella took office on 7 August 2026.
Where Does the Bill Stand?
Government and lawmakers held their first talks on the bill on Saturday 7 November in Barranquilla. Gómez has since met the National Business Council, which represents Colombia’s main business associations.
Congress’s regular session ends on Wednesday 16 December 2026, which leaves about five weeks. A cut of this size needs votes in a Congress that has not yet agreed to it.
What to Watch
Congress must act on the bill by Wednesday 16 December 2026, when the session ends. A date for any World Bank programme or loan is not confirmed.
What It Means for You
Bondholders and companies exposed to Colombia should treat the meeting as a signal of effort, not of money. The bill’s fate in Congress, not the bank’s warm words, will decide how the budget gap is closed.
What Is Not Known
The content of the talks, any World Bank support and its size have not been disclosed. It is also unclear whether Congress will pass the bill in its current form.
More: Colombia news in English, every day from The Rio Times.
Frequently Asked Questions
What is Colombia’s Rescue Law?
It is a 106-article bill filed on 29 October 2026 to repair the public finances. It would cut 2027 spending by about 2.2% of GDP, roughly US$12.1 billion.
Did the World Bank agree to lend money?
No agreement has been announced. The minister only thanked the bank for the meeting.
When must Congress decide?
Congress’s regular session ends on Wednesday 16 December 2026. The bill must pass before then.
Colombian Ministry of Finance, Minister Miguel Gómez Martínez, post on X, 13 Nov 2026 · Chamber of Representatives of Colombia, Rescue Law bill · World Bank, Colombia country page