## 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](https://www.imf.org/en/publications/cr/issues/2016/12/30/colombia-third-review-under-the-extended-arrangement-15630)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/30/colombia-third-review-under-the-extended-arrangement-15630/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/30/colombia-third-review-under-the-extended-arrangement-15630/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/30/colombia-third-review-under-the-extended-arrangement-15630/bundle-manifest.json)

## Bibliographic details
- Published: February 7, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451808766.002

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### 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

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/colombia-third-review-under-the-extended-arrangement-15630_