## Colombia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Colombia

_IMF Staff Country Reports, March 23, 2021_

## Source details

**Canonical URL:** [Colombia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Colombia](https://www.imf.org/en/publications/cr/issues/2021/03/23/colombia-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-50301)

## Other formats

- [Markdown version](/en/publications/cr/issues/2021/03/23/colombia-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-50301/index.md)
- [Structured JSON version](/en/publications/cr/issues/2021/03/23/colombia-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-50301/index.json)
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## Bibliographic details
- Published: March 23, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513574608.002

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### Executive summary and macroeconomic outlook
- COVID-19 has taken a severe social and economic toll, including almost 60,000 deaths.
- With over 5 million jobs temporarily affected, Colombia recorded its largest recession on record.
- Since 2020H2, an uneven recovery with intermittent growth has been underway, led by private domestic demand.
- IMF staff expects only a gradual recovery in 2021 with economic activity not expected to return to pre-pandemic levels until the second half of 2022.
- Vaccinations began in February with plans to effectively cover the adult population.
- Both external and domestic risks remain skewed to the downside.

### Key findings and indicators
- Deaths: almost 60,000.
- Employment impact: over 5 million jobs temporarily affected.
- Recession: Colombia recorded its largest recession on record.
- Recovery timing: economic activity not expected to return to pre-pandemic levels until the second half of 2022.
- Recovery start: uneven recovery with intermittent growth has been underway since 2020H2.
- Vaccination rollout: began in February; plans to effectively cover the adult population.
- Risk assessment: external and domestic risks skewed to the downside.

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## Content in this bundle

- **1colea2021001**
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  - [1colea2021001 (PDF)](/-/media/files/publications/cr/2021/english/1colea2021001.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2021/03/23/colombia-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-50301_