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The mid-year update also lifts the bank's policy-rate call to 12.75% and trims its peso forecast as remittances hit records.

Bancolombia puts Colombia's Q2 2026 GDP growth at 2.6% — slightly below consensus, but trending upward from a weak first quarter.

Colombia’s Constitutional Court invalidated several articles of the President Ivan Duque’s “Ley de Financiamiento” fiscal reform law that was approved at the end of 2018 declaring them unenforceable. This means that the government has until January 1 2020 to return to...

Growth will be driven by higher commodities prices, improved household consumption, and a more balanced performance across various sectors.

The prediction is slightly below the 3.0% and 2.9% forecasts from the World Bank and IMF, respectively.

The IMF projection is in line with the 2.9% prediction issued last week by the World Bank.

Looking further ahead, the World Bank has forecast Colombian GDP to increase by 3.4% in both 2019 and 2020.

"These forecasts for Colombia's growth are much higher, compared to the other scenarios in Latin America," said Cárdenas.

Last July, the IMF forecasted Colombia's GDP to grow by 3.0% in 2017. In October, that figure fell to 2.7% then, in April, it was cut again to 2.3%. Now it sits at 2.0%.

The 25-point cut narrowly won the day among central bank board members with a 4-3 vote. All three dissenters preferred another 50-point reduction.