Cardenas Says Peso at 11-Year Low Good for Colombia Deficit, GDP

The fall in Colombia’s peso, which this week slumped to its weakest level in 11 years, will help narrow the current account gap and boost growth, Finance Minister Mauricio Cardenas said.

“The flexible exchange rate helps us to stimulate exports and substitute imports, so that the current account deficit falls,” Cardenas said Thursday evening, in an interview in Bogota. “This is something we consider highly desirable.”