Colombia: 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities of Colombia

IMF Staff Country Reports, May 3, 2010

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Canonical URL: Colombia: 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities of Colombia

The key findings of Colombia’s 2010 Article IV Consultation on economic developments and policies are presented.
The Colombian economy had begun to slow down in early 2008, as policies had been tightened to address overheating.
The global crisis caused private investment to collapse in the last quarter of 2008.
The largely domestically owned and locally financed financial system did not experience major strains from the global crisis.
Colombian banks did not have complex off-balance sheet financial instruments, and had limited cross-border linkages.

Slowdown began in early 2008 due to tightened policies aimed at addressing overheating.
Private investment collapsed in the last quarter of 2008 as a consequence of the global crisis.

Financial system characterized as largely domestically owned and locally financed.
No major strains from the global crisis were observed in the financial system.
Colombian banks lacked complex off-balance sheet financial instruments.
Colombian banks had limited cross-border linkages.

Subjects: Economic sectors, Energy subsidies, Expenditure, External debt, Fiscal policy, Fiscal stance, Public debt, Public sector
Keywords: Colombia, countercyclical monetary policy, CR, deficit, Energy subsidies, fiscal policy measure, Fiscal stance, food inflation, GDP, Global, inflation expectation, ISCR, lending program, monetary policy, Public sector