Colombia Reports

The managing director of the World Bank, Salvadorian Juan Jose Daboub, said Thursday in Bogota he was "impressed" with the stability of the Colombian economy and the government's reaction to the international financial crisis.

"Colombia is an example for Latin America. I am very impressed with the government's program, with the economic stability and the measures taken to address the crisis, and the efforts deployed to achieve peace and development, " Daboub told El Espectador.

The senior official did note however, that the World Bank gives Colombia the third largest amount of funding in Latin America and the seventh largest in the world.

So far this fiscal year the World Bank has approved US$1.3 billion in funding to Colombia he said.

Daboub met with President Alvaro Uribe earlier this week to discuss the effects of the global financial crisis on Colombia and the steps taken to confront it.

"The Colombian private sector is very dynamic, its competitiveness continues to grow, Colombia is unstoppable," Daboub said.

During his stay in Colombia, Daboub participated in the First International Congress on Disarmament, Demobilization and Reintegration, which was held in Cartagena from Monday to Thursday.

In addition to meeting with Uribe, Daboub also had meetings with the Colombian Vice President Francisco Santos, and Finance Minister Oscar Ivan Zuluaga.

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