Colombia's investment case: Mauricio Cárdenas

Nov 1, 2013

If Colombia is to avoid slower growth it must boost domestic investment to offset a weakening external environment, says its finance minister Mauricio Cárdenas

We are moving between two extremes that are equally harmful. A few years ago we were exaggerating the expansion in emerging market economies, suggesting that they would become the new engines of the global economy, that the rate of expansion was unstoppable. But it is equally an exaggeration to say that the emerging markets are in a process of decline and that a more pessimistic view should substitute for the previous one. The reality is somewhere in between. Emerging markets are still growing at a very healthy rate, roughly 4.2%.

However, having witnessed, for example, the gridlock in Washington in October, I am more convinced than ever that we have to put all our emphasis on domestic investment to offset the weakening external side of the economy.

The...

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