Citi Dumps Colombia on Capital Control Fears

Citi Dumps Colombia on Capital Control Fears

Colombia

Citi’s equity research team has downgraded Colombian equities to neutral from overweight on the grounds the country appears likely to re-introduce capital controls in the near future. With the COP gaining 13% against the dollar this year, locals appear confident that the risk of a return to recently imposed controls on incoming flows is real, says Citi. It cites several other reasons supporting its downgrade, including sub-par growth, fragile fiscal policy and seemingly stretched valuations for

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