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Santos warns of US ‘fiscal cliff’ impact

posted by Rob Edmond

Colombia’s president Juan Manuel Santos on Monday said the country’s economy is doing well, but warned of the possible impacts of a fiscal crisis in the United States.

In an interview with RCN Radio, Santos said he hoped U.S. leaders come to an agreement before their economy goes over the so-called “fiscal cliff.”

“Hopefully…American…leaders [can] agree and…not let [their] economy drop off the cliff, because it really would be a blow to the U.S. economy and, in turn, to the world,” said Colombia’s head of state.

“They should be aware that this is not just a domestic issue, but an issue that has international repercussions. Nobody can hide,” said Santos.

Santos went on to say that “fortunately our overall economy is doing well. I think this year we ended up with a growth of around four percent. Hopefully it will be even higher, but it will be close to four percent.”

“The forecasts for next year are not all bad, [they] are of…similar growth…Of course that also depends a lot on what happens with the prices of the products we produce and export, and…many [other] variables. But Colombia’s economy is doing very well,” said the President.