Colombia: Staff Report for the 2005 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 154

Publication date: May 2005

ISBN: 9781451808865

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Topics covered in this book

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Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , government , deficit , exchange rate , oil price windfall , SDR , U , S , dollar , opportune intervention , foreign currency , central bank , private sector , inflation expectation , government institution , Public sector , Inflation , Inflation targeting , Global

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Republic of Congo : 2001 Article IV

Summary

This paper discusses Colombia’s 2005 Article IV Consultation, Fourth Review Under the Stand-By Arrangement (SBA), and Requests for Waiver of Nonobservance of Performance Criteria. Real economic growth in Colombia recovered to 4 percent a year in 2003–04. The national unemployment rate declined from 20 percent at end-2000 to 12 percent at end-2004. The health of the financial system continued to improve. The solvency and profitability of the banking system have recovered, reflecting economic growth, a successful recapitalization scheme, and improved supervision.