Economy in Colombia

  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.
  • Billionaire Luis Carlos Sarmiento Angulo spoke up in favor of ongoing peace negotiations with the FARC

    COLOMBIA, 2014/06/15 Financial mogul Nicanor Restrepo Santamaría, the former chief of Bancolombia Jorge Londoño and prominent architect Pedro Gómez were part the two dozen businessmen that signed the open letter in support of Santos. The businessmen praised the president’s economic policies. “Your government is responsible for unprecedented economic results, inclunding a rise in employment, a rise in foreign investment and excellent international relations,” the letter said. “We’ve considered Oscar Iván Zuluaga’s proposals but we believe that Santos is the best choice for Colombians,” it added. The president and right-wing opposition candidate Zuluaga are neck-and-neck in competition ahead of Sunday’s runoff vote, with polls split over who will win.
  • The sparkling hub of Latin America

    COLOMBIA, 2012/12/12 Amid booming economic increase, the Latin American country of Colombia is increasingly becoming an attractive location for international investors, drawn not only to its sustained political and financial stability but as well to its developing modern infrastructure and open market. Last year, Colombia experienced a increase in GDP of 5.7 %, up from 4.6 % in 2010. The current government, led by President Juan Manuel Santos Calderón, has taken significant strides to maintain constant economic increase in addition to controlling inflation, currently at 3.7 %, and unemployment at 9 %.
  • Colombia: Primed to compete 2012-6-13

    COLOMBIA, 2012/06/13 With the free trade agreement (FTA) between the US and Colombia in full swing after its May 15 start date, both countries are planning how to benefit from closer trade relations. A wide variety of US industries will profit from the trade accord. Aircraft and parts, agricultural and construction equipment, auto parts, fertiliser, scientific and medical equipment, and about half of US farm exports gained duty-free status after May 15. Major gains were in transportation equipment and infrastructure and machinery, which were previously taxed at rates of 12.7% and 11.1%, respectively. Overall, the US expects the deal to lead to a $1.1bn increase in exports and a $2.5bn increase in GDP.
  • Colombia, Venezuela ink new trade deal 2011-12-04

    COLOMBIA, 2011/12/04   Venezuela Monday signed a new trade transaction, part other agreements, during an official visit by Colombian President Juan Manuel Santos. Next extensive talks at the Miraflores Palace, seat of the Venezuelan government, the sides inked 11 deals, including a framework agreement that sets new regulations for the bilateral trade that is worth 7 billion U.S. dollars annually.
  • Multilatinas Extend Reach Into Developed Markets 2011-06-23

    ARGENTINA, 2011/06/23 According to a May statement by the United Nations Economic Commission on Latin America and the Caribbean (ECLAC), outgoing FDI from the region quadrupled to $43.1 billion, highlighting the growing strength and world presence of Latin America–based multinational companies, known as “Multilatinas.”