Colombia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Colombia

IMF Staff Country Reports, March 28, 2024

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Canonical URL: Colombia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Colombia

"With the sharp growth slowdown in 2023 from an overheated post-pandemic position, the Colombian economy has reached more sustainable levels of economic activity and domestic demand."
Market confidence has improved, but "risk premia remain high compared to peers."
"Risks to the outlook have improved but remain elevated and to the downside."
Important gains have been achieved in reducing imbalances, but policies should aim to "durably eliminate them while facilitating a smooth convergence of the economy to potential levels."

Maintain the track record of "very strong policies" to support Colombia’s capacity to respond to shocks.
Continue to gradually normalize macroeconomic policy stances.
Advance on the structural reform agenda to:
- boost productivity,
- encourage investment,
- diversify the economy.
The broad objectives of the administration’s equity and climate agenda are welcomed.

Subject: Credit, Economic sectors, External debt, Inflation, International organization, Monetary policy, Money, Prices, Public debt, Public sector
Keywords: authorities commitment, CPI basket, Credit, Global, Inflation, inflation expectation, liability positions vis-à-vis nonresident, Policy discussion, Public sector