Peace talks with Colombia’s EMC guerrillas to begin...
Human rights prosecutors attacked in northern Colombia
Colombia’s judicial branch thrown offline in major cyber...
7 years into peace process, Colombia has strategy...
Colombia’s estimated cocaine production reaches new record high
Colombia’s president wants end to sanctions on Venezuela
Colombia’s ranchers federation threatens to mobilize over land...
Court orders arrest of Colombia’s former Congress president
Colombia’s intelligence agency assassinated presidential candidate: prosecution
Colombia’s former army chief indicted for 130 extrajudicial...
  • About
  • Support
  • Newsletter
  • Contact
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
Economy

President Santos speaks on Colombia’s economy at G20 summit

by Brandon Barrett June 19, 2012
2K

Colombia News - Santos

Colombian President Juan Manuel Santos spoke about his country’s stable economy at this year’s G20 summit meeting in Los Cabos, Mexico.

Santos told finance ministers and heads of state from the world’s 20 major economies that Colombia had weathered the global economic crisis through “certainty over the future,” and by identifying “actors in the crisis that had to act: the government, banks, businesses and a very important factor, families(…) All these elements were necessary but we only acted on the four we considered sufficient. And that was the short-term plan.”

The head of state added that his government implemented a comprehensive plan of pragmatism, that was “socially sensitive and politically viable.” Santos added that long-term reform, like a Constitutional guarantee that his government would provide “fiscal sustainability as a fundamental right of citizens” was necessary for a stabilized economy.

Colombia’s economy was projected to grow by 4.7% in 2012 and 4.4% in 2013, 0.9% higher than the South American average, according to the International Monetary Fund.

“Last year [Colombia’s economy] grew by 6%, we have 3% inflation. We have a very healthy situation that we hope to maintain,” the president added.

Santos promised Monday that Colombia was prepared to deal with Europe’s ongoing financial crisis. “While we are not completely armor-plated, we are fortunately protected. We have high reserves, low inflation, and an increasing lower fiscal deficit. We are among the countries with the best credit on the planet and additionally we have put in place macroeconomic policies that are exalted around the globe.”

The G20 summit ends Tuesday.

economyG20Juan Manuel Santos

Contribute

Trending

  • Colombia’s judicial branch thrown offline in major cyber attack

  • Human rights prosecutors attacked in northern Colombia

  • Peace talks with Colombia’s EMC guerrillas to begin in October

For patrons

Downloads for patrons

Related articles

  • Colombia’s GDP and GNI

  • Inflation

  • Foreign trade

  • Twitter
  • Email
  • Rss

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top
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