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Colombia’s President Iván Duque Márquez announced yesterday, from his Twitter account, the appointment of University of Los Andes economist Arturo José Galindo Andrade as the new co-director of the Banco de la República, Colombia’s Central Bank, replacing José Antonio Ocampo. “I...

Foreign Direct Investment (FDI) in sectors other than those of mines and energy, between January and August, registered an increase of 11.4%, according to Colombia’s Banco de la República (Bank of the Republic), going from $1.4 billion USD the same period last year to $1.564...

According to analysis provided by Bancolombia, Colombia’s consumer price index recorded a monthly increase of 0.27%, coming in at 6 basis points higher than the 0.21% expected by economic analysts. The inflation rate is higher than that of the past decade, 0.23% Costs of produce...

Colombia’s financial superintendent Jorge Castaño Gutiérrez has appointed the economist Juan Carlos Mendoza as the delegate for the Supervision of Market Risk and Liquidity for Superfinanciera, Colombia’s financial regulatory body. Mendoza worked for more than 10 years in the...

The put options will be in force from December 4-28, according to the Bogotá-based Banco de la República. 

In mid-November, the Banco de la República forecasted inflation to end both 2018 and 2019 at 3.3%.

While still in line with central bank projects, the uptick brings year-over-year inflation to its highest level since February.

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

Though the rating is unchanged from the New York agency’s previous assessment, the status quo represents positive news for a country where economic growth has slowed.

While this was just 0.01% below the rate recorded in March, this represents the fifth straight month of decline.