Colombia felt the blow from the loss of its investment grade and investor fears about the direction of the economy in the first sale of international bonds by the government of President Gustavo Petro.
The nation sold a dollar-denominated bond due 2033 for a yield of 8.1%, compared with 3.4% it paid on 10-year bonds maturing in April 2020.
The government will use that money to buy back short-term debt and . . .