Thanks to the efficiency and capacity of the District in collecting its own revenue, Barranquilla has achieved a notable milestone.
Fitch Ratings Colombia and Moody’s assessed Barranquilla’s risk level based on its financial performance, awarding the city an AA rating with a Stable Outlook. This rating confirms the city’s strong fiscal management.
Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BB’.
National Long-Term Rating at ‘AA(col)’.
The District’s performance in these areas has strengthened confidence from both national and international financial sectors, which are increasingly investing in the city’s development and supporting the administration’s investment plans.
Mayor Alejandro Char shared the news about the rating results on his account on the social media platform X (formerly Twitter).
“I am pleased to share that the renowned firms Fitch Ratings and Moody’s have granted Barranquilla a credit rating of AA with a Stable Outlook, recognizing the responsible and solid management of our public finances,” Mayor Alejandro Char announced on X.
The rating agencies highlighted the administration’s ability to generate its own revenue, as demonstrated by its strategies and results.
“This recognition reflects an administration committed to efficiency and the capacity to collect its own revenue. Above all, it represents the trust we have built with the financial sector, enabling us to dream big and advance our social investment plans. This allows us to bring more comprehensive development, opportunities, and infrastructure to every corner of the city. Let’s keep moving forward!” stated the mayor.
Looking ahead to 2025, Mayor Alejandro Char signed Agreement 017 of 2024, which established a budget of 6.7 trillion pesos (332 billion USD). This amount, approved by the Barranquilla District Council, represents a 33% increase compared to the fiscal year 2024.
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