High January inflation figures may lead policymakers on Colombia’s central bank board to increase the benchmark interest rate more sharply than previously anticipated, analysts said on Monday, as the board Full Article »
Colombia’s 2015 exports plummeted 34.9% compared to the year before. The drop is partly due to a steep drop in the price of oil, Colombia’s main export product.
Colombian Finance Minister Mauricio Cardenas cut the government’s oil price forecast, saying this could spell more austerity measures in order to meet the country’s fiscal deficit goal.
Colombia’s economic growth is likely to slump to 2.7% this year and should prepare for an “extended period” of economic slowdown, the International Monetary Fund (IMF) said Friday.
Colombia’s finance minister Mauricio Cardenas said on Friday the government was focused on cutting the country’s large current account deficit though he admitted that oil’s latest price fall could make Full Article »
Colombia’s National Hydrocarbons Agency, or ANH, has canceled three exploration and production contracts that had been awarded in 2012 to Anglo-Australian consortium Optima-Range, which also must pay $54 million.
Coal miner Cerrejon’s Colombia production fell 1.48% in 2015 compared with the previous year, while exports were down 2.33%, the company said on Thursday.
Colombia’s government sold its 57.6% stake in energy company Isagen to Canada’s Brookfield Asset Management for $1.99 billion, the finance minister said on Wednesday.
El Quimbo, a hydroelectric power plant in the southern Colombian province of Huila and the second-largest facility of its kind in South America, is functioning normally after temporarily restarting over Full Article »
Canada’s Brookfield Asset Management and Chile’s Colbun will bid for the controlling stake in Colombian power generator Isagen at an auction on Jan. 13, the Colombian Finance Ministry said on Full Article »
Colombia’s poor await a tough year with soaring food prices, a possible sales tax hike and a recent increase in minimum wage that fails to curb a drop in half of the labor force’s purchasing Full Article »
A peace deal with FARC rebels could triple foreign direct investment in Colombia and boost its potential economic growth from 4% to 5.9%, according to the government’s planning department DNP.