Colombia: Review Under the Flexible Credit Line Arrangement-Press Release; and Staff Report
IMF Staff Country Reports, May 22, 2019
Source details
- Canonical URL
- Colombia: Review Under the Flexible Credit Line Arrangement-Press Release; and Staff Report
Other formats
Bibliographic details
- Published: May 22, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498316309.002
Macroeconomic recovery and external position
- Colombia’s recovery is gaining momentum on the back of strong domestic demand.
- The recovery is accompanied by a wider current account deficit.
- Given the importance of oil exports and non-resident holdings of local-currency bonds, Colombia remains exposed to lower global growth, including indirectly through lower oil prices, and a sudden reversal in investor sentiment.
External shocks and migration
- As a key external shock, migration flows from Venezuela accelerated in 2018.
- By end-December 1.5 million migrants were estimated to live in Colombia.
Risk assessment
- Risks to global growth and financial stability are tilted to the downside and have increased somewhat relative to the last FCL approval according to the April 2019 WEO and GFSR.
Financial market resilience
- Colombia weathered last year’s financial and oil market volatility well, as evidenced by stable spreads and local currency bond yields.
Report metadata (selected)
- Publication date: May 22, 2019
- Pages: 40
- Issue: 141
- Series: Country Report No. 2019/141
Source: Colombia: Review Under the Flexible Credit Line Arrangement-Press Release; and Staff Report (IMF Staff Country Reports), May 22, 2019.
Content in this bundle
- EXECUTIVE SUMMARY