September 1, 2009
by Ben MillerAs with the rest of the region, Colombia faced inflation pressure as it struggled to protect the economic gains of recent years. The first central bank in the region to begin cutting rates in December 2008 Colombia has charted a course that saw inflation return to 3.81% in June, from almost 8.00% in October 2008. José Darío Uribe, governor of the Banco de La República since 2005, tells LatinFinance about the trials of the past year. What was the single greatest challenge?Timing the change in the policy stance. Between the second half of 2007 and the first half of 2008 the Colombian economy was subject to strong supply shocks stemming from skyrocketin
After Brazil and Chile, Colombia’s central bank did best in LatAm at confronting the multiple challenges of global financial crisis. It overcame significant domestic hurdles.