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    "headline": "Colombia's Finance Minister Urges Fiscal Adjustment to Avert Payment Crisis",
    "dek": "Miguel Gómez warns Congress that failing to approve fiscal cuts will trigger a severe economic crisis in Colombia.",
    "prose": "Miguel Gómez stated that Colombia is experiencing a fiscal deterioration without recent precedents, where monthly government spending is significantly higher than revenues. [^1]\n\nMiguel Gómez, Colombia's Minister of Finance, presented the framework for the 2027 General Public Budget (PGN) to the Joint Economic Commissions of the Congress on an unspecified date in 2026. [^2]\n\nThe government decided to cut $21.9 trillion pesos in spending because public finances inherited from the previous administration lacked the capacity to cover the full amount. [^3]\n\nThe Government of Abelardo De la Espriella approved a reduction of $21.9 billion to the 2026 national budget during a recent Council of Ministers meeting. [^4]\n\nWith the proposed adjustment, the government aims to close the year with a primary deficit of 3.3% of GDP and a total deficit of 7.2% of GDP. [^5]\n\nFinance Minister Miguel Gómez confirmed the budget adjustment during a session at the Congress, stating the government lacks the capacity to pay for the originally planned expenditures. [^6]\n\nMiguel Gómez stated that the decision to cut spending was painful and difficult for the government but absolutely indispensable to avoid serious liquidity problems by the end of the year. [^7]\n\nMiguel Gómez criticized the previous administration for failing to take timely measures to curb the growth of the fiscal deficit. [^8]",
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