Key PointsColombia’s central government debt reached COP 1,192.6 trillion ($317bn) by December 2025, the highest on record. The Finance Ministry’s investor-relations profile shows gross central-government debt at COP 1,192.6 trillion ($317bn) on December 31, 2025. Colombia Faces Mounting Debt PressuresDomestic debt stood near COP 838.5 trillion ($223bn), far larger than external debt near COP 354.1 trillion ($94bn). Within the local pile, marketable Treasury bonds dominate, including TES long-term near COP 662.3 trillion ($176bn). One prominent former finance minister estimates almost COP 400 trillion ($106bn) in new debt and COP 423 trillion ($113bn) in added interest commitments.