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"The forecasts for 2018 and 2019 are promising and are supported by stronger growth in Colombia’s trading partners,” stated ECLAC in its mid-year regional breakdown.

The 2.8% figure is the best result in any second quarter since 2015 and up from the 2.5% growth seen in the same period during 2017.

Compared to June, the consumer price index fell by 0.13% — significantly below the consensus forecast.

While the peace process and divisive politics in Bogotá will be thornier issues, Duque's management of the fiscal deficit will prove tricky even amid rising GDP growth rates.

Rising oil prices were the biggest factor. The extractive industry exported $11.8 billion USD — nearly 60% of the nation's export value in the past six months.

This represents an uptick from the 8.7% rate registered in June 2017. The overall second quarter unemployment rate this year was 9.4%

The decision to maintain the current rate was approved unanimously by all seven members of the board of the Banco de la República.

"The continuation of fiscal adjustment, as per Colombia's fiscal rule, will be important for sustaining policy credibility," said Fitch Ratings.

This figure is identical to a recent forecast from the central bank and represents an improvement from the disappointing 1.8% registered in 2017.

"Being part of this organization will allow Colombia to adopt better public policies, which will contribute to overcoming the large gaps in terms of competitiveness.”