Colombia: Recent Economic Developments
March 15, 1996
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This paper describes economic developments in Colombia during the 1990s. Economic activity slowed in 1991 as financial policies were tightened to curb inflation. However, activity rebounded strongly to an average of 5 percent a year in 1992–94, buoyed by the trade and financial liberalization, the discovery of substantial new oil fields, relaxation of credit policies, and higher coffee export prices in 1994. Substantial growth was recorded in investment, transport, construction, and service activities, and the unemployment rate fell from 10.5 percent in 1990 to 7.9 percent by end-1994, notwithstanding a moderate increase in labor force participation.
Subject: Central banks, Economic sectors, Expenditure, Exports, Inflation, International reserves, International trade, Prices, Public sector
Keywords: asset, Banco de la Republica, capital goods, Central America, CR, debt service, Exports, Inflation, International reserves, ISCR, liberalization, net, Public sector, target band, trade-weighted index
Pages:
94
Volume:
1996
DOI:
Issue:
018
Series:
Country Report No. 1996/018
Stock No:
1COLEA0011996
ISBN:
9781451808728
ISSN:
1934-7685
Notes
This paper on recent economic developments in Colombia was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of Colombia or the Executive Board of the IMF.
