Alfredo Serrano Manc, director of the Latin American Strategic Center for Geopolitics (CELAG), published an analysis contrasting the results of economic policy in Colombia under the presidency of Gustavo Petro and in Argentina under the administration of Javier Milei.
According to the economist, these are two distinct approaches: one that incorporates citizens and seeks macroeconomic stability with microeconomic well-being, versus another that generates macroeconomic imbalances and household distress. To support his assertion, he shared data on the exchange rate and country risk in both countries through 2025.
In Colombia, the peso appreciated against the dollar, and country risk showed a downward trend, according to figures from BanRep and the EMBI index from JP Morgan. In contrast, in Argentina, the peso depreciated sharply, and country risk increased sharply, according to data from the Central Bank of the Argentine Republic (BCRA) and JP Morgan.
Serrano concluded that the indicators reflect Colombia's better performance compared to Argentina so far in 2025, and emphasized his phrase: "Data kills the narrative," referring to empirical evidence versus political rhetoric.
Sources cited:
1) Central Bank of the Argentine Republic (BCRA). https://www.bcra.gob.ar/
2) Bank of the Republic of Colombia (BanRep). https://www.banrep.gov.co/
3) JP Morgan. EMBI Global Index. https://www.jpmorgan.com/