Colombia Risks Downgrade From Tax Cut Plan, Cardenas Says

(Bloomberg) -- Colombia’s credit rating is under threat from tax cuts being debated by congress, former Finance Minister Mauricio Cardenas said.The government’s tax bill would reduce its revenues by about 1% of gross domestic product in 2022, Cardenas said. President Ivan Duque’s administration is taking a gamble by betting on faster growth and lower tax evasion to keep the fiscal deficit in check, he said.“It’s putting Colombia at a serious risk of a downgrade and