At the beginning of 2023, global and regional economic forecasts were quite bleak, especially for Colombia, which had just elected its first progressive left-wing government. However, recent figures from DANE indicate that Colombia managed to navigate through 2023, keeping the economy running during the first full year of the new government. Colombia's economic growth in [...]
In Colombia, the term “Drop-by-Drop” (Gota-a-Gota) is omnipresent and carries a dark connotation. This illegal industry of informal credits, often resorted to by the poorest, is regulated through violence and has become one of the business axes of mafias in all regions of the country. In contrast, the Grameen Bank, known as the bank for […]
Amidst a rapidly transforming global geopolitical landscape, Colombia faces significant economic challenges, characterized by low value-added generation and poor productivity performance. In recent decades, the country has experienced a setback in its industrial sector and a very incipient development in services based on innovation and knowledge. This situation is exacerbated by the high dependence on […]
The Vice President of Colombia, Francia Márquez, recently unveiled the program ‘She Exports to Africa’, a collaboration between the Colombian government and the Women Entrepreneur Fund. This initiative aims to boost the country’s exports to the African continent while simultaneously strengthening the economic autonomy of Colombian women. With enthusiasm, Márquez stated that 30 businesswomen from […]
On July 31, 2023, President Gustavo Petro signed a decree declaring free access to all undergraduate programs in public universities in Colombia. This Law 2307 will need to be regulated by the Ministry of Education within a maximum period of six months and will be implemented progressively, taking into account the annual budget availability. The […]
On April 17th, Colombia and the United States took a historic step by signing a Mutual Recognition Agreement (MRA) between their respective Authorized Economic Operator (AEO) programs in Colombia and the Customs Trade Partnership Against Terrorism (CTPAT) in the United States. This agreement, which was signed in record time according to the National Association of […]
Colombia is experiencing significant growth in Foreign Direct Investment (FDI), setting a new historical record in April 2023. According to data from the Banco de la República, the country attracted close to US$1.951 billion in foreign investment during this month. This impressive amount, which surpasses the US$879 million recorded in March of the same year, [...]
Tourism, a critical industry for many economies worldwide, has experienced a significant resurgence in 2023, specifically in Colombia. Foreign tourism in the country has seen an impressive 47% spike in the first quarter of this year. This data, provided by the main Colombian authority in tourism, Anato (National Association of Travel Agencies), underscores the steady [...]
Spain Announces 1,000 Million Euros for Cooperation with Colombia On May 3, 2023, the only state visit Spain organized this year took place, during which Colombian President Gustavo Petro and his entourage, including Minister of Commerce Germán Umaña and Minister of Mines and Energy Irene Vélez, were received. The visit was described as "extraordinarily positive" [...]
During his trip to the United States in April 2023, Colombian Minister of Economy, José Antonio Ocampo, held a series of meetings with rating agencies and international organizations in an effort to recover the country's investment grade. Recently, the minister expressed his optimism on María Jimena Duzán's podcast, highlighting very positive and promising results from [...]
