IMF Staff Country Reports

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

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

April 29, 2019

Electronic Access:

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Summary:

Supported by very strong policy frameworks and well-executed policies, Colombia’s recovery strengthened. The demand-led pick-up in growth is moving the economy toward internal balance but away from external balance. Looking ahead, without additional tax revenues and increased spending efficiency the fiscal tightening required by the fiscal rule will exert pressure to cut key public spending. The recovery is gaining momentum and external imbalances have widened. Despite weaker-than-expected external demand, activity should 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. Inflation is projected to remain close to target.

Series:

Country Report No. 19/106

Subject:

Central Banks Economic recovery External sector Fiscal policy National income