Colombia : Staff Report for the 1999 Article IV Consultation

Author/Editor:

International Monetary Fund

Publication Date:

December 29, 1999

Electronic Access:

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Summary:

This 1999 Article IV Consultation highlights that the recession in Colombia intensified in 1999. The unemployment rate rose to a record 20 percent in September, while inflation fell to 9½ percent and the current account deficit came down sharply. The fiscal position deteriorated markedly during the first half of 1999, largely as a result of weak tax collections and higher outlays on interests, wages, and pensions. As market sentiment toward Colombia remained unfavorable, the peso came under repeated pressure, and on September 27, 1999, the central bank allowed the currency to float.

Series:

Country Report No. 99/149

Subject:

Notes:

Included with the Staff Report are the text of Public Information Notice No. 99/114--IMF Concludes Article IV Consultation with Colombia and a Statement by Murilo Portugal and R. Junguito, Executive Directors, on December 20, 1999.

English

Publication Date:

December 29, 1999

ISBN/ISSN:

9781451808797/1934-7685

Stock No:

1COLEA0021999

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

62

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