Colombian presidential candidate Paloma Valencia vows to slash the nation's budget deficit by 50 trillion pesos ($14 billion) if elected. The right-wing contender promises to restore fiscal discipline after what she calls years of mismanagement under the current administration, positioning herself as a guardian of economic stability.

Valencia aims to reinstate fiscal rules abandoned by President Gustavo Petro's government, which she argues led to unsustainable debt levels. The former defense minister describes Colombia's fiscal situation as a "ticking time bomb" threatening economic stability and investor confidence in the Andean nation.

Her deficit-cutting pledge signals potential austerity measures that could impact government spending and social programs. Markets may respond positively to fiscal consolidation promises, though the political challenges of implementing such cuts remain significant in Latin America's fourth-largest economy.