926
Colombia’s Finance Ministry and Central Bank are considering measures to lower the price of the peso against the dollar, Finance Minister Juan Carlos Echeverry said Wednesday.
“We are monitoring the [USD vs. COP] rate several times a day. We are ready to take action if necessary,” Echeverry said.
According to the minister, the government and the Central Bank are considering several possible measures that include a surprise intervention by the Central Bank, reviewing trade tariffs, and tax breaks for export companies.
The peso rose more than 11% against the dollar so far this year, putting pressure on the country’s export industry.
