Director of Colombia’s central bank Carlos Cano warned that growing foreign investment in mining and energy sectors could make other sectors less competitive, reported business magazine Portafolio Friday.
“Furthermore, to the extent that capital inflows to finance investment in these activities predominate over the others, and as a result of the same shape and proportion evolve export revenues, could lead to strong pressures on the revaluation of the currency and the consequent weakening of the competitiveness of the tradable sectors such as agriculture and industry, thereby configuring symptoms of Dutch disease,” he said.