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The financial crisis in the US is starting to affect the Colombian
investment climate, now that U.S. banks announced to restrict loans in
emerging economies like Colombia. The Colombian government announced measures.
To make sure the Colombian banks and their foreign currency system won’t be endangered, the Finance Ministry announced the creation of a special credit possibility at Colombia’s Bank of Foreign Trade or Bancoldex.
“Banks, like people, need loans to work and the large part of the resources our financial institutions are mostly from abroad. if those resources will be restricted we must obtain alternative funding sources,” Asobolsda director Emilio Archilla told Caracol Radio.
