This chapter includes the following articles.
Capital Markets
Developments in Colombia’s capital markets in recent years reflect those in the wider economy. The well-established sovereign fixed-income market has seen increased issuance as the government seeks to finance its widening budget deficit while rolling over its existing stock of debt. Increased global economic uncertainty, with bouts of extreme market volatility that particularly impact emerging markets, would suggest that the immediate future for the development of the Colombian derivatives market is bright. While traded volumes are likely to continue to ebb and flow, the overarching trend is likely to continue upwards as the country’s capital markets become increasingly sophisticated and a wider range of derivative products are available. This chapter includes an interview with Juan Pablo Córdoba, President, Colombian Stock Exchange.