November 3, 2024
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Economy & Finance

International Monetary Fund Praises Colombia’s ‘Very Strong’ Social-Economic Policies

The International Monetary Fund (IMF) on May 2 unveiled a new report finding that the Colombian government continues to exercise sound economic, social and fiscal policies – even in the face of the Covid-19 pandemic, its unavoidable economic consequences, massive influx of millions of desperate Venezuelans — but facing potential reversals from upcoming elections.
Economy & Finance

More than 64,000 Companies, 785,000 Workers Registered for ‘Medellin Me Cuida’ Economic Restart

The Medellin Mayor’s Office revealed May 4 that to date, 64,366 companies have registered under the pioneering “Medellin Me Cuida” economic restart program for manufacturing and construction sectors here. According to the Mayor, of those 64,366 companies, 54,810 have presented evidence of compliance with new biosafety protocols to prevent the spread of Coronavirus. So far,
Economy & Finance

Medellin & Antioquia Sales Crashing; Business Liquidity Vanishing; 130,000 Jobs Lost Here in Coronavirus Crisis

The Medellin Chamber of Commerce for Antioquia (CCMA) just revealed a new study indicating that the Coronavirus quarantine costs the local economy here at least COP$170 billion (US$42 million) every day — and 95% of businesses have seen sales drop anywhere from 80% 100% during the crisis. As a result, Antioquia regional gross domestic product (“PIB” in […]
Economy & Finance

Antioquia, Colombia Cut-Flower Exporters See Mother’s-Day Rebound Despite Crisis

The east-of-Medellin “Oriente” region — second only to Cundinamarca in Colombia’s gigantic cut-flower export industry – aims for a sales rebound for the upcoming May 10 annual “Mother’s Day” demand surge typically seen in North America, Europe and parts of Asia. As noted in an April 14 bulletin from Asocolflores (the national flower-producers’ trade association),
Economy & Finance

Coronavirus-Slammed Businesses Reaching Critical Point on Cash Liquidity: ANDI

Colombia’s national industrial-commercial trade association ANDI on April 14 released results of a national member survey showing that Colombia’s business sector is close to hitting a critical wall on cash liquidity – because of the Coronavirus quarantine crisis. The survey of 172 companies that collectively generated COP$56.8 trillion (US$14.7 billion) in operating income
Economy & Finance

Colombia’s GDP Grew 2.7% in 201 February 2019

Colombia’s national economics statistics agency (DANE, Departamento Administrativo Nacional de Estadistica) on February 28 revealed that its latest studies indicate national gross domestic product (“PIB” in Spanish initials) hit 2.7% for full-year 2018, up from a feeble 1.4% in 2017. Meanwhile, Fedesarollo – Colombia’s leading economic think-tank – now foresees a
Economy & Finance

Nutresa 2018 results February 2019

Nutresa Full-Year 2018 Net Profits Jump 20% Year-on-Year Medellin-based multinational processed foods giant Nutresa announced February 22, 2019 that its full-year 2018 net income rose 20% year-on-year, to COP$508 billion (US$155 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 7% year-on-year, hitting COP$1.1 trillion (US$336