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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.

While the rest of Latin America is going one way, Colombia is still lagging behind. Only Ecuador, with a 6.1% drop in the first quarter, performed worse.

Replacing César Vallejo, the respected economist Ocampo will be one of the seven board members to vote during the next Banco de la República meeting in March.