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Colombia - Current economic position and prospects (Inglês)

During the decade preceding second world war Colombia's gross national product in real terms increased by approximately 3.8 percent per year. Since population was expanding at about 2.2 percent per year this left a considerable margin for growth of real per capita income. The post war years brought acceleration in growth rates. Between 1945 and 1956 real output appears to have expanded by over 7 percent per year, a performance matched by few other countries in the world and surpassed in Latin America only by Venezuela. The accomplishments of the last three years are the more remarkable since they have been brought about at a time when coffee prices fell and the foreign exchange income of the country was greatly reduced. The combination of low exchange earnings that must be expected in view of the continued poor coffee outlook, and the concentration of foreign debt in short maturities makes the burden of servicing the external debt very heavy for the next two years. From 1962 on, however, the ration of service obligations, computed on the basis of presently existing debt, to prospective current exchange receipts remains at a level that need not be considered excessive. On balance, the accomplishments of recent years and the prospect for continuing effective management of the country's economic affairs, weighed against the distinct possibility that export earnings may for some time grow at only a modest rate, lead to the conclusion that Colombia can incur a reasonable amount of additional long-term debt, provided that the proceeds of new loans are used to finance only high priority projects essential for the country's continued economic advancement.

Detalhes

  • Data do documento

    1960/04/30

  • TIpo de documento

    Relatório Econômico ou Setorial Pré-2003

  • No. do relatório

    WH92

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Colômbia,

  • Região

    América Latina e Caribe,

  • Data de divulgação

    2010/06/12

  • Disclosure Status

    Disclosed

  • Nome do documento

    Colombia - Current economic position and prospects

  • Palavras-chave

    balance of payment;Foreign Exchange Reserve;real per capita income;gross national product;real gross national product;fluctuations in exchange rates;rate of growth;free market;debt service ratio;rate of investment;commercial bank credit;increases in output;production of commodity;prior import deposits;ad valorem duty;coffee price;irrigation and drainage;current account surplus;foreign exchange obligation;production and export;domestic price level;foreign exchange income;multiple exchange rate;change in supply;private foreign investment;finished consumer goods;flow of import;tax on earnings;foreign exchange holding;foreign exchange position;foreign exchange receipts;production of cotton;production of wheat;export promotion policy;gross domestic investment;total external debt;inflow of capital;exempt from taxation;estimate of revenue;errors and omission;long term borrowing;national government budget;marginal reserve requirement;foreign exchange margin;fats and oil;long term debt;degree of liquidity;increase in expenditure;foreign exchange needs;cost of living;public foreign debt;foreign exchange policy;export earnings;money supply;raw material;inflationary pressure;import restriction;credit policy;Credit policies;monetary expansion;import policy;amortization payment;exchange earnings;Monetary Stability;import duty;private bank;agricultural sector;debt amortization;domestic producer;external credit;wholesale price;real income;exchange tax;agricultural commodity;import tariff;current expenditure;tropical jungles;productive capacity;colombian peso;dollar value;banking system;International Trade;temperate climate;export commodity;coal deposit;capital accumulation;Economic Policy;government deficit;iron ore;net repayment;mining companies;mining company;export proceeds;precious metal;private debt;sugar cane;import demand;industrial sector;import control;economic integration;export tax;price support;coffee production;foreign creditor;commercial credit;fiscal situation;capital good;consumer price;medium-term loans;finished product;domestic processing;Austerity policies;investment rise;border trade;radical change;cash basis;earning capacity;great power;local products;productive efficiency;electrical appliance;regional market;free rate;net payment;transfer payment;aviation gasoline;agricultural land;import permit;real cost;output decline;exportable commodity;export business;foreign expenditure;administrative regulation;social peace;generating capacity;agricultural output;oil exploration;oil palm;irrigated farming;capital expenditure;balanced budget;highway system;manufacturing industry;productive facility;interest group;inflationary condition;debt repayment;export restrictions;tax burden;political strife;agricultural equipment;production cost;steel product;chemical product;local production;citric acid;insurance expenditure;cash deficit;statistical appendix;capital imports;government expenditure;steel mill;heavy burden;finished goods;national market;transportation facility;market supply;import condition;national income;monetary policy;bank deposit;rediscount rate;rediscount quota;prompt payment;agricultural pursuits;total employment;important change;household industries;import licence;gross investment;official estimates;prices increase;income growth;export trade;peak year;coastal region;domestic production;monetary authority;external account;negative effect;business community;price drop;market remittance;wheat flour;oil seed;real output;specific duty;special tax;military construction;domestic industry;deflationary measure;invisible payment;fiscal deficit;exchange transaction;dollar rate;coffee market;short-term loan;exchange regulation;monetary implication;long-term debt;cash payment;existing debt;exchange loss;downward adjustment;inflationary financing;total credit;stabilization program;private investment;primary commodity;foreign company;geographical position;mountainous area;price decline;transition period;small country;gold standard

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