Colombia: Third Review Under the Stand-By Arrangement and Request for a Waiver of Nonobservance of Performance Criterion

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 199

Publication date: July 2004

ISBN: 9781451808827

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , government , deficit , inflation-targeting framework , policy track record , economic policy cabinet , pension regime , demand policy , government's ability , CPS deficit , Public sector , International reserves

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Peru

Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

This paper discusses Colombia Third Review Under the Stand-By Arrangement (SBA) and Request for Waiver of Nonobservance of Performance Criterion. Under the authorities’ program, economic performance has improved considerably. Real GDP rose by 3.7 percent in 2003 and 3.8 percent in the first quarter of 2004, while inflation fell to 5.4 percent year over year in May, lower than expected. Solid export growth, together with improved confidence, has strengthened the external position. Fiscal policy is on track, and almost all structural reforms continue to advance.