Reuters Economy
Just in 2011 the economy would acquire force to grow to 4%. Surely, my vision about the good perspective of the Colombian economy in the medium and long term, will not leave approvals to the families of that country who at the moment undergo the unemployment brought about by the crisis. He would not be bad that remembered that one famous phrase to me of the Keyneses: In the long term we are all deads. Certainly, the rate of unemployment in Colombia it is elevated. The same is in 12.5% and the perspective are towards the rise. In relation to the same, I found in site of Caracol Radio, declarations of minister of Property Oscar Ivn Zuluaga who noticed that leisure in the country, would inevitably continue raising as a result of world-wide the economic crisis and the strong deceleration of the Colombian economy. Without doubts, Zuluaga is not a specialist in raising the spirit of the population and handling the expectations.
Probably these declarations have increased the panic of the population with the consequent impact on the familiar consumption. The good thing of the case is that the Colombian government has not remained of arms cruzados against this situation and in the last days he has had a series measures to contain the impact of the crisis. One of them has been to resort to the IMF to ask for a loan by US$ 10,400 million to him that would be approved in May. Perhaps it can seem a smaller fact but from my point of view, it is of great importance because it helps to isolate to Colombian economy of possible worsenings of the crisis. Also the Bank of the Republic makes its contribution to the cause and is taking ahead a laxer monetary policy. This week the Committee of Monetary Policy will decide on the interest rate of reference. According to the last sounding of Reuters 33 of the 40 survey analysts they anticipated a cut of interest rates of 100 basic points, consequently the same in 6% would be located. Contribution to the cause? Perhaps a cut of such magnitude could put in risk the value of the Colombian peso, which runs risks of being debilitated of an excessive way bringing about a possible inflationary risk.
Surely, the Colombian economy will be of which better performance observes once in Latin America surpassed the present crisis. But meanwhile, the government of Uribe will have to take care of with well-taken care of the problems that as much international the financial crisis as now also, the pig influenza, are causing in the economy to avoid that they generate a damage deep and difficult to repair. In his to drive, the government of Uribe will demonstrate what answer capacity has before extreme situations. Original author and source of the article.
