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Economy

Colombia breaks foreign investment record

by Adriaan Alsema April 1, 2009

Foreign companies invested US$10.5 billion in Colombia in 2008, which
is 17 percent more than the year before and the largest sum ever, the
country’s Central Bank announced Tuesday.

The oil sector, receiving 3.5 billion dollars, was the largest recipient of foreign money.

Colombians sending money to their families from abroad make up the third largest amount of money coming into the country. The inflow of money from ex-pats did plummet 12 percent in the last quarter, when the financial crisis hit the United States.

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