Colombia is resisting the global
financial turmoil well and its growth should recover in 2010
after slowing though next year as trade partners face weaker
expansion, the International Monetary Fund said on Friday.
Colombia’s central bank chief said on Friday that he
expected the country’s economy will grow around 3.5 percent in
2008 and around 3 percent next year while inflation will be
around 4.5 percent in 2009.
“Colombia has resisted the turbulence in international
financial markets well,” Benedict Clements, head of the
visiting IMF mission, said in a statement to reporters.
“The local debt and interbank markets are continuing
without upheaval and no signals of pressure in liquidity have
been observed,” he said.
The government recently cut its 2008 economic growth target
to around 4 percent as it took stock of the impact from the
world financial crisis. But the central bank said it expects
2008 growth at 3.5 percent or maybe less. (Reuters)