Colombia: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Colombia

International Monetary Fund

No 2011/224, IMF Staff Country Reports from International Monetary Fund

Abstract: The Colombian economy proved resilient to the global financial crisis, and a solid recovery is under way. The pace of monetary tightening envisaged strikes the right balance between restraining credit growth and mitigating incentives for further capital inflows. A sudden acceleration of domestic demand places an additional burden on monetary policy. Colombia’s financial sector oversight is solid, and plans to strengthen cross-border and consolidated supervision are commended. Steep taxation of labor and a relatively high minimum wage are significant hindrances to competitiveness. Colombia’s exchange restrictions remain unchanged.

Keywords: ISCR; CR; inflation expectation; government; deficit; GDP; Colombian authorities; labor market informality; inflation pressure; exchange regime; Public sector; Energy subsidies; Global (search for similar items in EconPapers)
Pages: 64
Date: 2011-08-02
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