Colombia's Central Government Debt (% of GDP), 1990-2022

Colombia’s debt rose significantly from 16.62% in 1990 to 37.11% in 2002, driven by fiscal deficits and economic challenges during a period of internal conflict. Debt levels stabilized in the mid-2000s, declining to 27.2% in 2008, aided by stronger economic growth and fiscal reforms.

The debt began rising again in the 2010s, peaking at 51.96% in 2020 due to the economic shock of the COVID-19 pandemic and increased borrowing. By 2022, it had declined slightly to 47.47%, signaling recovery efforts and fiscal adjustments. The chart underscores Colombia’s economic resilience amid external and domestic pressures.