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Colombia will suspend at year-end payments on...

Colombia will suspend at year-end payments on the $4.6 billion in foreign debt it owes to commercial banks. The country will seek renegotiation talks, a government spokesman said. Comptroller General Rodolfo Gonzalez said the government will open accounts Dec. 31 to deposit funds that normally would be paid out every three months to its creditors. He said Colombia will withhold payments until the debt is renegotiated. Gonzalez also said the accounts will prove Colombia has the necessary funds to service the debt.


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