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Finance minister Maurice Cardenas signed a Foreign Account Tax Compliance Act (FATCA) intergovernmental agreement, with US Ambassador Kevin Whitaker last Wednesday. The bilateral agreement is aimed at combating offshore tax evasion by promoting the exchange of information between...

According to DANE (Colombia Statistics Bureau) figures, the number of employed people increased 4.1% from March 2014, meaning that in the last year, 854,000 Colombians found jobs. This resulted in a maximum employment rate for any March since Colombia started tracking...

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 Minister of Finance, Mauricio Cardenas, revealed Thursday that Colombia will have access to a credit line of US $ 400 million with the Central American Bank for Economic Integration (BCIE for its initials in Spanish). Colombia has been a non-regional member of the BCIE...

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 President of  Colombia, Juan Manuel Santos, said today that Colombia successfully placed a new $1 billion (USD)  bond issue on the global debt market yesterday, demonstrating the world’s confidence in the soundness of the Colombian economy. “We placed  a billion...

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...

Colombia’s Finance Minister Mauricio Cardenas, confirmed last Monday “absolute support ” by the national government for the proposed construction of the Metro de Bogotá, the capital city’s planned subway and light rail project. While participating in the...

The Japanese rating agency Rating and Investment Inc. (R & I) has upgraded Colombia’s long-term debt rating from BBB- to BBB with a stable outlook. R & I confirmed its confidence in the country’s economic stability in recent years, noting that Colombia recorded real GDP...