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
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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
Pages:
64
Volume:
2011
DOI:
Issue:
224
Series:
Country Report No. 2011/224
Stock No:
1COLEA2011002
ISBN:
9781462341559
ISSN:
1934-7685
