Gustavo Petro faces friction with Colombian business and central bank

President Gustavo Petro has faced significant criticism for his ongoing confrontations with the business sector, the press, and economic institutions. Organizations such as the Foundation for Press Freedom (FLIP) and the Inter-American Commission on Human Rights have noted a pattern of stigmatization in his rhetoric toward business guilds like the National Association of Business Enterprises (ANDI).

In a recent critique, Leonardo Villar, manager of the Banco de la República, addressed the administration's challenges to the central bank's monetary policy. Villar defended the institution's constitutional autonomy, refuting claims that its decisions unfairly favor the financial sector. He attributed recent inflationary pressures to the government's fiscal expansion and minimum wage increases, noting that the primary deficit has reached historic highs.

While the economy saw low unemployment and moderate GDP growth through mid-2026, the central bank highlighted concerns regarding a trade imbalance and the effects of high interest rates on currency appreciation. The tension underscores a broader conflict between the Petro administration's economic vision and the country's traditional financial and industrial leadership.