Colombia: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Colombia
IMF Staff Country Reports, April 29, 2019
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- Colombia: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Colombia
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Bibliographic details
- Published: April 29, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498311786.002
Economic outlook and projections
- Recovery is gaining momentum despite weaker-than-expected external demand.
- Growth is expected to accelerate in 2019 to 3.6 percent.
- The current account deficit is expected to remain wide.
- Inflation is expected to remain close to target.
Drivers of the recovery
- Rebounding investment.
- Continued policy support.
- Substantial migration from Venezuela contributing to activity.
Risks and external balances
- External imbalances have widened.
- Weaker-than-expected external demand represents a downside risk to activity.
Structural challenges and reform priorities
- Structural reforms are needed to boost inclusive growth and enhance external competitiveness.
- Key areas identified for policy action:
- Addressing infrastructure gaps.
- Strengthening governance and the rule of law.
- Reducing informality.
- Enhancing customs and other trade practices.
- The draft National Development Plan is identified as rightly setting key priorities and laying out a roadmap for reforms.
Institutional context and policy framework
- Colombia’s economy is described as improving drastically and supported by very strong policy frameworks and well-executed policies.
- The authorities expect the recovery to gather momentum in 2019.
IMF Staff Country Report No. 2019/106; Pages: 77; Volume: 2019; Issue: 106; DOI: https://doi.org/10.5089/9781498311786.002
Content in this bundle
- 1colea2019001