# Latin American fiscal and budgetary developments > Live situation record from CLSTR: https://clstr.news/situations/latin-american-fiscal-and-budgetary-developments > Updated: 2026-10-22T21:58:47.000Z. Sources: 24. Developments: 2. Several Latin American nations have introduced 2027 budget proposals characterized by varying fiscal outlooks. Nicaragua has proposed a budget aiming for a seventh consecutive year of surplus, with a focus on social spending and infrastructure. In contrast, Costa Rica is facing a public income deficit of approximately USD 882.5 million, leading to proposed spending cuts and concerns regarding tax non-compliance. The Dominican Republic anticipates a fiscal deficit of RD$327,000 million, with significant attention directed toward rising debt interest payments. In Colombia, fiscal concerns have been highlighted by both international and domestic bodies. The IMF has described the country’s fiscal situation as unsustainable, noting a primary deficit of 3.5% of GDP. Concurrently, the Procuraduría General de la Nación has issued a preventive alert regarding a projected $1.84 trillion peso deficit in the National Fund for Social Benefits of the Teaching Profession (FOMAG). This shortfall threatens the continuity of health services and economic benefits for teachers, despite recent budget transfers intended to bolster health funding. ## Timeline ### 2026-10-22: Colombia's Procuraduría warns of $1.84 trillion peso deficit in FOMAG fund Colombia's Procuraduría warns of a $1.84 trillion peso deficit in the FOMAG fund, threatening health services for teachers. 2 sources. https://clstr.news/cluster/colombias-procuradura-warns-of-184-trillion-peso-deficit-in-fomag-fund ### 2026-10-14: Latin American nations present 2027 budget proposals amid fiscal challenges Latin American nations are unveiling 2027 budgets, with Nicaragua projecting a surplus focused on social spending, while Costa Rica and Colombia face warnings over deficits and fiscal sustainability. 22 sources. https://clstr.news/cluster/national-government-deficit-reached-11962-trillion-in-2025 --- Cite as: Latin American fiscal and budgetary developments. CLSTR, https://clstr.news/situations/latin-american-fiscal-and-budgetary-developments