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Economy

Colombia ‘ready’ for action to lower price of peso

by Adriaan Alsema September 1, 2010
690

Colombia news - Juan Carlos Echeverry

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.

Colombia pesodollareconomy

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Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion