Colombia's Petro calls economic emergency, fresh financing law

Colombia's President Gustavo Petro says his government will seek a new economic emergency decree and a fresh tax reform bill to help balance the 2026 budget.

Reuters reported on April 7 that Petro said the measures would be sent to Congress, with the government ready to enact them by decree if lawmakers do not approve them. AP reported that the move is intended to raise more revenue after earlier financing efforts stalled.

The announcement extends a recurring budget fight for Petro's administration and comes as Colombia heads deeper into an election year.

The presidency has already signaled that emergency powers are being treated as a fallback option after the Constitutional Court suspended an earlier decree in January.

The latest proposal is still at the announcement stage, and key details such as the final tax measures and expected revenue have not yet been set out publicly.