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Colombian Economy

The Promise of Colombia

 By admin  Tuesday, April 10, 2012

By Michael W. Edghill
While much of the globe has been mired in an economic malaise, the simultaneous growth of Latin America has been well chronicled. Most of the attention given to Latin America’s rise has focused on Brazil, which recently surpassed Great Britain to become the world’s sixth largest economy. The attention has been justified given Brazil’s remarkable turnaround, its economic growth, potential growth, and forthcoming global spotlight by way of the 2014 World Cup and 2016 Summer Olympics. Overlooked by many when examining the opportunities for growth that exist in Latin America is the promise of Colombia..

In January, Colombia’s Minister of Trade, Industry, and Tourism, Sergio Diaz Granados, said that his nation seeks to be the third largest Latin American economy by 2015. The goal of becoming the “largest economy in Latin America after Brazil and Mexico” is spurred on by their estimates, which show that the Colombian economy grew by 7.7 percent in the third quarter of 2011.

The economic forecast is equally encouraging with IMF estimates that the Colombian economy will continue to grow by 4.5 percent between 2012 and 2015...more

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