Colombia: Third Review Under the Extended Arrangement
IMF Staff Country Reports, February 7, 2002
Source details
- Canonical URL
- Colombia: Third Review Under the Extended Arrangement
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Bibliographic details
- Published: February 7, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451808766.002
Summary
- Examines the Third Review Under the Extended Arrangement for Colombia.
- Considerable macroeconomic stabilization has been achieved under the program.
- Achievements cited:
- Inflation has been reduced.
- Fiscal consolidation has advanced.
- The exchange market has remained orderly.
- Significant structural reforms have been implemented, albeit with some slippages.
- The 2002 program calls for:
- A reduction in inflation to 6 percent.
- Maintenance of a strong external position.
- A further strengthening of the public finances to gain better control over the public debt dynamics and help lay the ground for a robust recovery of activity in the private sector.
Macroeconomic findings and policy orientation
- Findings:
- Inflation reduction (target specified as 6 percent).
- Fiscal consolidation progress noted.
- Orderly foreign exchange market conditions.
- Structural reforms implemented, with some slippages.
- Policy emphasis:
- Strengthen public finances to control public debt dynamics.
- Support conditions for a robust recovery of private sector activity.
- Maintain a strong external position.
Subjects and keywords
- Subject: Central banks, Credit, Economic sectors, External debt, International reserves, Money, Pension reform, Public debt, Public sector
- Keywords: auctions of option, country faces challenge, CR, Credit, fiscal consolidation process need, fiscal policy recommendation, foreign exchange, Global, International reserves, ISCR, Public sector, reform effort, South America, staff appraisal