According to a post on his social media account, his government “must present solutions” in response to the international context and the decisions of the Central Bank, which, in his view, is beholden to the opposition and sets interest rates that “seek to stifle the economy and the well-being of the Colombian people.”

The relationship between the Executive branch and the financial institution is currently strained following the bank’s decision to raise interest rates by 100 basis points to 11.25 percent, a move the president rejects as counterproductive to the nation’s growth.

The president stated that the priority of the outlined strategy is to protect production, jobs, and prevent inflation from spiraling out of control.

He argued that risks to agricultural policy are increasing due to the conflict surrounding fertilizer and fuel prices.

The way to mitigate this effect, he maintained, is to subsidize the costs of corn and fertilizer, rather than fuel.

He added that a housing construction policy with very low interest rates could also be established with government participation.

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