Colombia: Dolar vs. Peso and What's Happening in Bogota

Generated Title: Colombia's Gripen Gamble: A $4.3 Billion Bet Against US Dominance?

Colombia's decision to purchase 17 Gripen fighter jets from Sweden for $4.3 billion raises a few eyebrows, especially given the current geopolitical climate. It's not just about upgrading their air force; it's a statement. The timing, coinciding with suspended intelligence sharing with the U.S., is… conspicuous.

Shifting Alliances: Dollars and Defense

President Petro's move to halt intelligence sharing with the U.S. over lethal strikes on alleged drug-running boats is significant. The U.S. has carried out at least 19 such strikes in the Caribbean and eastern Pacific. The UK and France have also voiced concerns, with the French Foreign Minister calling the strikes a violation of international law. This isn't just about Colombia; it's about a growing unease with U.S. tactics in the region.

The Gripen deal, confirmed on November 15, 2025, is a hefty investment. $4.3 billion is not pocket change. What return on investment can Colombia expect? Are they anticipating a shift in regional power dynamics? Or is it simply about diversifying their military suppliers? Sweden's Defence Minister Pal Jonson pointed out that Colombia is joining Brazil and Thailand in choosing the Gripen. There's a trend here, but is it a trend against the US, or just toward Saab?

The "dolar colombia hoy" exchange rate is certainly something Petro and his finance minister would have been watching closely as the deal was finalized. A weaker "dolar en colombia" would make the purchase even more expensive, impacting other areas of the national budget.

The Trump Factor: A Lingering Shadow

The animosity between Petro and Trump is well-documented. Trump's accusations of Petro's involvement in the drug trade, his withdrawal of U.S. aid, and even personal attacks on Truth Social have undoubtedly soured relations. Petro calling Trump a "barbarian" isn't exactly a diplomatic olive branch. (Though, let's be honest, Trump's rhetoric wasn't exactly conciliatory either.) Colombia's president criticizes 'barbarian' Trump over boat attacks - NBC News

But is this Gripen purchase simply a reaction to Trump's policies? Or is it a long-term strategic decision? Trump's actions—sending an aircraft carrier strike group to the Caribbean, approving covert CIA operations in Venezuela—certainly created a climate of distrust. It's hard to quantify the long-term impact of that kind of pressure, but it's safe to say it didn't foster goodwill.

Defense Secretary Pete Hegseth posting images on X of a lethal strike on a vessel? That's not just transparency; it's a power play. It's a message. And Petro clearly received it loud and clear. I wonder, though, how much of this is truly about Trump versus a more fundamental divergence in views between the US and Colombia concerning sovereignty and international law?

This Looks Like a Hedge Gone Wrong

The Gripen purchase is a gamble. A $4.3 billion gamble that Colombia can navigate the shifting sands of international relations. It's a bet against U.S. dominance, or at least a hedge against relying too heavily on a single superpower. The question is, can they afford it? And will it pay off? Because from where I am standing, it looks like Petro bet against the dollar and lost.