Since the drop in commodity prices in 2014, Colombia’s economy has been recovering and is set to expand in 2019 and 2020. In May 2018 Colombia was invited to become the 37th member of the OECD, a positive development that should increase the country’s international political and economic prominence in the coming decades. However, challenges to ensuring Colombia’s continued economic progress remain.
The ICT sector is one of the most promising sectors in Colombia with high demand for telecommunications services, and an emphasis on innovation in commerce and industry. However, financial challenges, such as changes in interest rates, also significantly impact the growth of ICT due to the long-term nature of investments in the sector. Similarly, companies can struggle to access financing to...
The banking sector has already begun to show signs of improvement in line with macro economic indicators. Measures taken by the national government and the Central Bank of Colombia appear to have enabled the sector to weather the storm, and improving economic conditions should pave the way for a positive performance from the financial sector. Despite the slow evolution of equities trading,...
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In conjunction with EY Colombia, this chapter explores the taxation system and Colombia’s efforts to build an investor-friendly environment. It also contains an interview with Jaime Vargas, Tax Managing Partner and International Tax Services Leader, EY Colombia.
Colombia’s education sector has a number of hurdles to overcome before it can reach its objective to permanently boost outcomes. First and foremost, the government’s obligation to provide extra funding for the sector will need to remain sustained and highly targeted, to increase participation rates and close the divide between rural and urban areas. In addition, it is important for higher...
In recent decades Colombia’s health sector has gone through substantial changes and improvements, shifting from being underdeveloped to one of the highest ranked in the region. The sector continues to struggle with structural issues related to liquidity. However, the government is hoping that a boost in general health spending and a targeted infusion of financing will help alleviate some of...
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