Colombia Reports

The Colombian economy will grow 2.5 percent in 2009, despite a global financial crisis that has pushed the United States and Europe into a recession, says Luis Alberto Moreno, President of the Inter-American Development Bank (IDB).

Moreno told newspaper El Espectador the Colombian economy will actually be able to profit from the drop of basic goods prices, because the larger economies' demand is dropping.

The IDB director advises Colombia to continue to attract foreign investors to secure a steady flow of foreign money into the country.

Comments (3)

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written by Midnight, November 25, 2008

You're not all failing, the USA is failing, I know that most people don't understand that you are not isolated and protected from each other like the people from the orgs. here but it's like my foot just got shot the rest of me is fine but I really have to fix my foot because I need it. Even R. Gates got it. When the banks catch up there will be financial rest. Right now it looks really bad, really bad.

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written by Subrosa, November 25, 2008

Only a few weeks ago we were advised that growth would be around 5%, now the figure has been revised down by 50%.
Last year colombia's economy grew by 7%.
Prepare yourselves for reality, it's going to be a bumpy ride.
I forecast zero growth or below.

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written by Subrosa, November 30, 2008

Slack use of English that gives a false meaning.
The headline should read - Economy expected to grow by 2.5% in 2009.
The present headline gives the impression of certainty.
However, my best guess is that there will be zero growth or a decline.
The party is over.

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