Colombia: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Colombia

August 2, 2011

Preview Citation

Format: Chicago

Colombia: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Colombia, (USA: International Monetary Fund, 2011) accessed November 23, 2024

Summary

The Colombian economy proved resilient to the global financial crisis, and a solid recovery is under way. The pace of monetary tightening envisaged strikes the right balance between restraining credit growth and mitigating incentives for further capital inflows. A sudden acceleration of domestic demand places an additional burden on monetary policy. Colombia’s financial sector oversight is solid, and plans to strengthen cross-border and consolidated supervision are commended. Steep taxation of labor and a relatively high minimum wage are significant hindrances to competitiveness. Colombia’s exchange restrictions remain unchanged.

Subject: Economic sectors, Energy subsidies, Expenditure, External debt, Public debt, Public sector

Keywords: Colombian authorities, CR, Deficit, Energy subsidies, Exchange regime, GDP, Global, Government, Inflation expectation, Inflation pressure, ISCR, Labor market informality, Public sector

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/224
Stock No:

1COLEA2011002
ISBN:

9781462341559
ISSN:

1934-7685

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