The economy has largely outperformed its neighbours in Latin America in terms of GDP performance in recent years. The global economic slowdown has affected growth, yet Colombia’s economy grew by 4.6% in 2014, compared to an average of 1.4% in the region. A settlement with the country’s largest rebel group is expected to lead to a peace dividend for...
Mauricio Cárdenas, minister of finance and public credit, has acknowledged that the Colombian budget for 2016 is under pressure. In November 2015 in a statement to the press he calculated that as a result of the drop in international oil prices the government would face a revenue shortfall of COP20.3trn ($7.5bn) in the period between 2013 and...
In late October 2015 the World Bank released its report “Doing Business 2016: Measuring Regulatory Quality and Efficiency”, which ranked a total of 189 countries worldwide for the ease with which 10 specific business processes can be performed. They are: starting a business, dealing with construction permits, getting electricity, registering...
What progress has been made in the promotion of entrepreneurship and businesses in Colombia? CASTRO: One of the government’s most important achievements was the creation three years ago of iNNpulsa Colombia, a programme designed to promote business growth driven by innovation. This programme consists of three main goals: to foster...
What benefits can be expected from Colombia’s accession to the OECD? ÁLVAREZ-CORREA: Macroeconomic stability, predictability and good governance are fundamental components for accession to the OECD. By belonging to the OECD, Colombia will show it has met key criteria and this will increase third-party trust levels in its...
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