Posted by Rob Edmond on Dec 25, 2012 Leave a comment

Santos warns of US ‘fiscal cliff’ impact

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.