Colombia Rate Increases Make Growth Sustainable, El Tiempo Says
By Ben Bain -
2012-02-05T21:12:46Z
Colombian central bank chief Jose Dario Uribe says that without recent increases in the nation’s benchmark rate, the pace of economic growth would be unsustainable, El Tiempo reported, citing an interview.
Colombia “hasn’t seen a major impact” on its exports from the crisis in Europe and other developed countries, Uribe told the newspaper.
He said gains in the peso are largely driven by changes in the perceived risk level of Colombian assets, and have little correlation with the interest-rate differential between Colombia and the U.S., according to El Tiempo.
To contact the reporter on this story: Ben Bain in Mexico City at bbain2@bloomberg.net.
To contact the editors responsible for this story: Sylvia Wier at swier@bloomberg.net.
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