LatinNews Daily - 21 March 2025

*Germán Ávila Plazas is poised to be officially named as Colombia’s new finance minister after his CV was published on the website of the presidency in line with protocol. Ávila replaces Diego Guevara, who was in the role for just three months after taking over in December 2024 from Ricardo Bonilla (2023-2024). Guevara’s resignation on 18 March reportedly owed to tensions with President Gustavo Petro over a spending freeze which the finance minister had called for as part of an austerity drive to cover a Col$12trn (US$2.91bn) budget shortfall. Ávila, who local media had already identified as the favourite to take over from Guevara, was since 2024 the president of Grupo Bicentenario, a holding firm for state companies. He is a former member of the guerrilla group M-19, to which Petro also belonged, and also spent many years as director of the national federation for social housing (Fenavip, 1993-2003, 2005-2023).

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