Colombia: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Colombia

April 29, 2019

Preview Citation

Format: Chicago

Colombia: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Colombia, (USA: International Monetary Fund, 2019) accessed December 26, 2024

Summary

This 2019 Article IV Consultation discusses Colombia’s economy that is improving drastically and is supported by very strong policy frameworks and well-executed policies. The recovery is gaining momentum and external imbalances have widened. Despite weaker-than-expected external demand, activity is expected to accelerate in 2019. Rebounding investment, continued policy support, and substantial migration from Venezuela are expected to lift growth to 3.6 percent while the current account deficit is expected to remain wide. The authorities expect the recovery to gather momentum in 2019 and inflation to remain close to target. Structural reforms are needed to boost inclusive growth and enhance external competitiveness. Addressing infrastructure gaps, strengthening governance and the rule of law, reducing informality, and enhancing customs and other trade practices are crucial. The draft National Development Plan rightly identifies key priorities and lays out a roadmap for reforms.

Subject: Credit, External debt, Fiscal policy, Fiscal rules, Money, Public debt, Revenue administration

Keywords: Banco de la República, Colombian authorities, CR, Credit, Deficit, Economy well, Financing data, Fiscal rules, GDP, GDP growth, Global, Government, ISCR, Liability positions vis-à-vis nonresident

Publication Details

Pages:

77
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/106
Stock No:

1COLEA2019001
ISBN:

9781498311786
ISSN:

1934-7685

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