Colombia Hasn’t Sold Dollars in Market in 2012, Government Says
Colombia hasn’t sold dollars in the market this year in a bid to ease gains the peso, according to the Finance Ministry.
The finance ministry is “worried” about the strong peso, it said in an e-mailed statement. To avoid pressuring gains in the local currency, state-oil company Ecopetrol SA (ECOPETL) will make its $1 billion dividend payment to the government in dollars, according to the statement.
“The government continues to permanently analyze measures to reduce the pace of gains in the peso,” the government said in the statement.
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