After strikes, protests, and a lacklustre start to the financial year, here comes some good news for the Colombian economy.
Led by agriculture, the country’s GDP in the second quarter grew 4.2 per cent compared to the same period last year, beating analysts’ expectations by almost a full percentage point. Quarter-on-quarter, the economy grew 2.2 per cent.
“Colombia’s economy is doing well, better than what analysts think,” the country’s finance minister, Mauricio Cárdenas, told beyondbrics in his office. Continue reading »
Colombia’s economy is still struggling to regain its momentum.
Data released Thursday showed the Andean country grew only 2.8 per cent in the first quarter this year, compared with the 5.4 per cent expansion in the same quarter last year. Continue reading »
Here we go again: Colombia’s central bank cut the Andean country’s benchmark rate for a fourth straight month. Policymakers trimmed a quarter point to 3.75 per cent – the lowest in Latin America.
In the longest easing cycle in over four years, starting in July last year, the very orthodox Banco de la República has chopped 150 basis points off its overnight lending rate in an attempt to reignite a slowing economy. Continue reading »
Argentina may have Lionel Messi but Colombia claims it’s overtaken its South American neighbour in terms of GDP. John Paul Rathbone, the FT’s Latin America editor, discusses with deputy emerging markets editor Jonathan Wheatley who can claim the economic bragging rights.
There is an adage in Spanish that goes: “Pain never lasts more than one hundred years.” At first sight, in any case, for the Colombian economy the pain seems to have lasted a quarter.
The recently-appointed finance minister, Mauricio Cárdenas, announced Thursday in Bogotá that Colombia’s gross domestic product grew 4.9 per cent in the second quarter, after expanding only 4.7 per cent in a rocky first quarter that was held back by weak growth of industry, oil output, and exports. Continue reading »
By Ian Mount and Andres Schipani
It’s all in how you do the math.
As Colombian finance minister Juan Carlos Echeverry prepares to leave his position and apply for the position of IMF’s Western Hemisphere director in charge of monitoring the Latin American and Caribbean economies, he’s making big claims for his stewardship of Colombia’s economy.
Specifically, he’s claiming that under his watch Colombia surpassed Argentina to be the second largest economy in South America and the third largest in Latin America, after Brazil and Mexico. Continue reading »