U.S. Treasury aims to work with Colombia's next government on investment, recovery

The United States is signaling its intent to collaborate closely with Colombia's incoming administration, aiming to foster economic recovery and attract investment. U.S. Treasury Secretary Scott Bessent stated his department looks forward to working with the future government to advance growth policies and partner with international financial institutions.

Bessent's remarks followed a meeting with Colombian Vice President-elect José Manuel Restrepo in Washington. The Treasury Secretary also highlighted cooperation on combating corruption and drug trafficking. Restrepo, in turn, expressed eagerness to work "shoulder to shoulder" with the U.S., emphasizing shared values and a common purpose.

This engagement underscores a potential shift in U.S.-Colombia relations, particularly given the incoming administration's alignment with former U.S. President Donald Trump. Trump had publicly supported the right-wing candidate Abelardo de la Espriella, who is set to take office on August 7. This contrasts with the recent past, which saw tensions between Washington and outgoing President Gustavo Petro, particularly over drug policy and Petro's refusal to recognize de la Espriella's victory.

Colombia's Vice President-elect visited Washington with his economic team to strengthen ties with the Trump administration and seek financial backing from multilateral organizations like the World Bank. The Inter-American Development Bank (IDB) has already committed approximately $63 million in non-reimbursable funds to the incoming Colombian government.