Category

The CEA (Council of American Enterprises) presented its 2014 results last week in the Country Club of Bogotá during a lunch attended by major US enterprises operating in Colombia. The event was attended by US Ambassador to Colombia Kevin Whitaker, and Mauricio Cárdena...

Colombia’s Finance Minister Mauricio Cardenas said Tuesday that the unemployment rate for the country continues its downward trend, reaching 9.9% for the month of February, 2015. “The trend in unemployment continues to fall. The unemployment rate has stood at 9.9% in...

The Board of Colombia’s Bank of The Republic, at its meeting last Friday decided to keep the benchmark interest rate at 4.5%. According a statement released by the Central Bank, the Board took into consideration the following aspects when reaching its decision: The average...

The Minister of Finance, Mauricio Cardenas, said Tuesday that the economic activity during 2014 grew by 4.6% from the previous year, according to figures published by DANE, Colombia’s official statistics agency. “The result of 3.5% for the fourth quarter allowed the...

Fitch Ratings expects electric demand in Colombia to continue to lag real gross domestic product (GDP) growth albeit with a shrinking gap over the short to medium term. This is due to low industrial electricity consumption as a percentage of total demand. Over the past decade,...

Colombia’s Finance Minister Mauricio Cardenas said Friday from Puerto Inirida, Guainia, that the unemployment rate in Colombia dropped to 10.8% for January 2015, “in an environment of increased labor force participation by Colombian households with an increase in...

Fitch Ratings announced this week that the US based ratings firm expects that favorable financing conditions and projected GDP growth of 3.5% for 2015 bode well for mergers and acquisitions (M&A) activity in the Colombian corporate sector. ‘Colombia has become a vibrant...

The Colombian economy has done remarkably well over the last decade, consistently ranking among the fastest-growing countries in Latin America, but a comprehensive tax reform that promotes investment and diversifies the economy is now needed to put the country on a path toward...

Mintrabajo, Colombia’s ministry of labor, announced that the monthly minimum wage throughout the country will be set at $644,350 pesos per month, an increase of 4.6%. The labor minister, Luis Eduardo Garzón, announced that the increase was higher than in previous years, thus...

Photo credit: Loren Moss According to statistics released by DANE (National Department of Statistics), Colombia faced a 2014 inflation rate of 3.66%, an increase of 88% over 2013. The government statistics are important because many charges are set and adjusted annually based on...