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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.

The IMF lowered its 2017 projections for Brazil by 0.3% and Mexico by 0.6%.

"The slowdown in output and lower external imbalance reflect the adjustment required in the Colombian economy," said the central bank.

This marks the second straight month with no intervention, putting a definitive end to the prior 11 months of rate hikes.

The secretary's mission is to consult with Colombian officials on their plans to maintain strength in public finances in a post-conflict Colombia.

This marks the 11th consecutive month that the Banco de la República has intervened in a fight against an inflation rate that has hit a 16-year high.

In terms of large Latin American economies, Peru and Colombia are the only two countries currently projected for growth of 3.0% or more in 2017.

During an interview earlier this month, International Monetary Fund (IMF) head Christine Lagarde was queried by IMF communications director about how various emerging economies were handling the current slump in commodities prices, especially petroleum. Lagarde singled out...

Colombia’s finance minister Mauricio Cardenas, through decree 0602 issued on April 7, has appointed Jorge Castaño Gutiérrez as financial superintendent. Castaño has worked with the financial supervisory authority for the past decade, and has most recently served as the director...