Colombia aims to kick start oil-hedging program

Colombia is drawing up plans to hedge against declines in the price of crude, its main export, the country's finance minister said on, following in the footsteps of Mexico, which successfully used one during the 2014-2016 price slump.

Mauricio Cardenas said "it is the right time" for Colombia to start thinking about implementing an oil hedge for the first time, adding that the country would need to reshape its legal framework to allow the government to lead a potentially risky financial transaction.

Source: Reuters