Business Economy & Finance

Fitch, Standard & Poors, Moody’s All ‘Negative’ on Colombia Debt

Medellin Herald March 7, 2025

New York-based global financial-ratings agencies Fitch, Standard & Poors (S&P) and Moody’s are now unanimous: Colombia’s debt rating has been downgraded to “negative.” On March 6, Fitch officially changed Colombia’s “Long-Term Foreign-Currency Issuer Default Rating” (IDR) outlook

Economy & Finance

President Duque Highlights Huge Growth Opportunities in Creative-Industries Sectors at Medellin Business Forum

Medellin Herald July 22, 2022

In contrast to some wildly unsustainable economic schemes proposed by incoming Colombia President Gustavo Petro – like giving dead-end government jobs to 3 million unemployed people — outgoing President Ivan Duque on July 21 here in Medellin outlined huge potential for sustainable jobs growth and wealth creation in the creative-industries sectors, also known as the

Economy & Finance

Colombians Working Abroad Sent US$1.5 Billion to Families in Antioquia in 2021

Medellin Herald June 3, 2022

A new report just issued by Medellin-based retail trade group Fenalco Antioquia finds that Colombians working abroad — mainly in the U.S. and Europe — sent a record US$1.52 billion back to their families here during 2021, boosting the post-Covid-pandemic economic recovery. Citing statistics from Colombia’s Banco de la Republica, Fenalco found that Antioquians

Economy & Finance

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

Medellin Herald May 3, 2022

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

Medellin Herald May 4, 2020

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

Medellin Herald April 24, 2020

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

Medellin Herald April 18, 2020

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

Medellin Herald April 14, 2020

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 Economy Improving, but Key Challenges Remain: Andi Annual Study

Medellin Herald January 3, 2020

Andi — Colombia’s biggest and most influential industrial-commercial trade association, born in Medellin – on January 3 issued its latest annual economic outlook report, finding that Colombia continues to improve in several key economic competitiveness areas — but still lags in others. “Colombia ends 2019 with a fairly acceptable performance in the economic

Economy & Finance

Colombia’s GDP Grew 2.7% in 201 February 2019

Medellin Herald July 11, 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