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Colombia’s Petro Names Ocampo Finance Minister in Nod to Market

  • Ocampo, former central bank director, was teaching at Columbia
  • Currency has fallen about 5% since Petro’s June 19 victory
Jose Antonio Ocampo during an interview with Bloomberg TV in New York in April 2017. 
Jose Antonio Ocampo during an interview with Bloomberg TV in New York in April 2017. Photographer: Christopher Goodney/Bloomberg
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Colombian President-elect Gustavo Petro named Jose Antonio Ocampo as finance minister in a move that should help ease concerns among investors who have been bracing for unpredictable economic policies under the nation’s first leftist government.

Ocampo, 69, is one of Colombia’s best-known economists. After joining Petro’s team of economic advisers, he wrote that the new government’s “greatest challenge” is overcoming social inequalities, which will require greater spending and an increase in tax revenue.