Colombia : 2020 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 17, 2020

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Before the arrival of the Covid-19 pandemic, Colombia’s economy had remained resilient—owing to very strong policy frameworks, well-executed policies and immigration from Venezuela. External vulnerabilities increased, however, alongside wider external imbalances. Strong internal demand lifted economic growth to 3.3 percent in 2019 and widened the current account deficit to 4.3 percent of GDP. In the wake of a global shock from the pandemic, Colombia’s economy is expected to contract for the first time in two decades, alongside a looming global contraction, lower oil prices, and tightening financial conditions. In response to disrupted activity, the authorities have adopted a set of measures to boost liquidity and support growth domestically.

Series:

Country Report No. 20/104

Subject:

English

Publication Date:

April 17, 2020

ISBN/ISSN:

9781513536965/1934-7685

Stock No:

1COLEA2020001

Format:

Paper

Pages:

69

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