Colombian economy

Colombia’s Banco de la Republica 2018 Survey: Peso/Dollar Range COP$2,800 to COP$3,200

Medellin Herald January 18, 2018

The latest monthly survey of leading banks and financial firms by Colombia’s Banco de la Republica (the national bank) finds that the Colombian peso is likely to trade in a range of COP$2,800 to COP$3,200 per US$1 during 2018, with a foreseen average of COP$2,995/US$1 by year-end. The monthly

Colombian economy

Colombia GDP to Rise 2.6% in 2018: Latest United Nations ECLAC Study

Medellin Herald January 16, 2018

In a new study released January 15, the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) finds that Colombia’s gross domestic product (GDP) is likely to rebound to 2.6% growth in 2018, up from 1.8% in 2017. “GDP is projected to expand by 2.6% in 2018 against a backdrop of lower interest […]

Companies

EPM Taps IDB, International Banks for US$1 Billion ‘Hidroituango’ Finance

Medellin Herald December 31, 2017

Medellin-based multinational power giant EPM announced December 29 that it won a US$1 billion credit from the Interamerican Development Bank (IDB) “Invest” funding subsidiary for debt finance of its 2.4-gigawatt, US$5 billion “Hidroituango” hydroelectric project in Antioquia. The credit package includes payback terms of eight-to-12 years. Draws would take place during a

General News

Antioquia’s ‘Toyo’ Tunnel Wins Enviro Licenses, Construction to Start in 2018

Medellin Herald December 21, 2017

Medellin Mayor Federico Gutierrez and Antioquia Governor Luis Perez jointly announced December 18 that the 9.8-kilometers-long “Toyo” tunnel project has now won required environmental licenses, paving the way for construction start-up in January 2018. The “Toyo” tunnel project – estimated to cost COP$1.83 trillion (US$617 million) in 2012 pesos — would link the new

General News

Medellin’s Top Business-Development Leaders Reveal Big Investments, Expansions Coming

Medellin Herald December 21, 2017

In a December 21 press conference at Mayor Federico Gutierrez’s office, Medellin’s top business-development agency leaders revealed a host of initiatives that promise to bring millions of dollars in new investments and re-investments starting in 2018 and subsequent years. One example: At least three of the world’s top hotel chains are mulling a proposal to […]

General News

‘Ruta al Mar’ Highway Project Wins Big Financing Package

Medellin Herald December 15, 2017

Colombia’s national infrastructure agency (Agencia Nacional de Infraestructura, ANI) and the Financiera de Desarrollo Nacional (FDN) national financing organization jointly announced December 14 that a new deal ensures COP$1.47 trillion (US$490 million) financing for the “Ruta al Mar” highway project linking northern Antioquia to Atlantic coastal ports. The new financing

Colombian economy

Mining, Energy Still Crucial to Fix Colombia’s Weak Finances: Fedesarollo

Medellin Herald December 13, 2017

Colombia’s top economic think-tank — Fundación para la Educación Superior y el Desarrollo (Fedesarollo) — on December 13 unveiled a report which finds that mining and energy projects will continue to be crucial to restoration of slumping national government finances. Antioquia is Colombia’s biggest gold-mining department — and hence figures into the

General News

Antioquia’s ‘Vias del Nus’ Highway Project Gets Financing Boost

Medellin Herald December 13, 2017

Antioquia’s development agency (Instituto para el Desarrollo de Antioquia, IDEA) announced December 13 that it’s extending a COP$132.5 billion (US$44 million) credit for the 157-kilometers-long “Vias del Nus” fourth-generation (4G) highway project in northern Antioquia. The credit will help support financing, design, environmental studies, purchase of adjacent properties,

Congresses & Conferences

30th Annual ‘Colombiatex’ Textile-Fashion Trade Show Debuts January 23-25, 2018

Medellin Herald December 7, 2017

Medellin-based Inexmoda – the trade association for Colombia’s textile and fashion industry – announced December 5 that the 30th annual “Colombiatex” trade show will bring-together some 550 companies, 125 exhibitors and about 15,800 buyers from 60 countries. The show — running January 23-25, 2018, at Medellin’s Plaza Mayor convention center – will feature displays

General News

Colombia National Agency Ranks Medellin #1 in Government Planning, Execution

Medellin Herald December 6, 2017

Colombia’s national planning agency — Departamento Nacional de Planeacion (DNP) — on December 5 announced that the city of Medellin ranks best among Colombia’s 13 biggest cities for government planning and execution. While Medellín took the top spot in the ranking of Colombia’s biggest cities, Bogotá came in second, followed by Barranquilla, Cali, Pereira,