Economics
Central Banker Expects Significant Damage From Colombian Unrest
- “Not a big deal” if Colombia gets downgraded, co-director says
- Bank could allow inflation to exceed 3% target during recovery
A demonstrator gestures in front of the Congress of the Republic during a protest in Bogota on May 12.
Photographer: Andres Cardona/BloombergThis article is for subscribers only.
Colombia faces a “grim” economic growth outlook this year due to social unrest and a surge in Covid-19 infections, according to the central bank’s newest co-director.
This means that the economy is unlikely to expand 6% in 2021 as forecast by the bank earlier this month, said Jaime Jaramillo, who was named to the board in February.