Colombia: 2007 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 031

Publication date: January 2008

ISBN: 9781451808933

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Topics covered in this book

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Exports and Imports , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , profit , nonresident profit , restriction , retention , approval , fund approval , excess demand , public debt debt ratio , inflation objective , monetary policy stance , longer-term inflation target , Public sector , Current account deficits , Current account balance , Global

Also of interest

Peru

Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

Colombia’s economic performance has been strong, aided by sound economic policies. Structural reforms and prudent macroeconomic policy management has contributed to higher economic growth and lower inflation. Executive Directors commended the economic strategy, which has increased economic growth and international reserves and reduced unemployment and public debt ratio. Directors emphasized the need for tightening the monetary policy stance and a strong fiscal policy to achieve a “soft landing” from economic boom.. They commended the countercyclical provisioning in the banking system, and emphasized the importance of a comprehensive tax reform.