Posted by Jacob Stringer on Dec 10, 2012 Leave a comment

IMF director praises Colombia’s economy

colombia news/imf

Colombia’s economy is so strong that it is in a position to lend money to the International Monetary Fund rather than borrow, said the director of the IMF on Monday.

“Colombia is in a situation where [it] can offer support to the [IMF], which has not happened in the past. Colombia has enjoyed a macroeconomic policy that has given a lot of stability to the country,” said Christine Lagarde, who is currently on a brief tour of Latin America.

“Colombia now has a very small deficit and a balanced debt and because of this their macroeconomic situation is very promising,” said the IMF Director who also stated that Colombia’s economy is currently doing better than the global economy.

Colombian President Juan Manuel Santos described his meeting with Lagarde as “more of a courtesy visit.”

“Anything that we can do to help make their work more effective [we will do] because if she [Lagarde] does well, the world does well,” said Santos.