IMF Endorses the Country’s Economic Direction
The international body praised the Colombian government's economic policies, as well as the 4th generation road infrastructure investment programs, which help reduce infrastructure gaps and diversify sources of growth.
According to the IMF, in the last years Colombia showed a sustainable GDP increase of 4%-5%, one of the most dynamic indicators in Latin America, and points out that keeping inflation under control is the foundation for sound progress, becoming the third economy in the region.
Public debt remained low, Colombia’s international balance of reserves strengthened, and the Flexible Credit Line (Linea de Credito Flexible) agreement counteracted the high level of extreme risks from abroad. Also, the authorities further reinforced the tax policy framework and the social protection network.
During this assessment, executives claim that Colombia’s actual GDP grew 4.6% in 2014, and unemployment rates decreased by approximately 9% during the year.
According to the IMF, the key priorities are: reducing informality in the economy, improving competitiveness and infrastructure, and promoting social mobility, particularly through improvements in education and healthcare.