The chief of the International Monetary Fund (IMF) mission in Colombia has praised the country’s economic policy and predicted a 4.3% growth in GDP this year.
IMF Chief of Mission Valerie Cerra told reporters in Bogota on Thursday that monetary policy and fiscal measures were stimulating the construction sector and civil works, which would lead the country to achieve an annual GDP growth of about 4% in the medium term.
“From this point of view, the framework under which the oil royalties are distributed to regions and the 2012 reforms aimed to rationalize the tax system and make it more equitable have all been positive steps,” Cerra said.
She approved of moves by the Colombian central bank to take advantage of abundant capital inflows from foreign direct investment to further increase its foreign reserves, especially of US dollars.