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Economy

Colombia’s Ecopetrol profit down 42.7% in 2014 on lower oil prices
Mar 3, 2015 Ξ Leave a comment

Colombia’s Ecopetrol profit down 42.7% in 2014 on lower oil prices

posted by Reuters

Net profits at Colombia’s state-controlled oil producer Ecopetrol fell 42.7% in 2014 versus the year before, due to lower crude prices and higher costs.

Economy

Dollar breaks through COP2500 barrier; markets wait for possible intervention
Feb 24, 2015 Ξ Leave a comment

Dollar breaks through COP2500 barrier; markets wait for possible intervention

posted by Adriaan Alsema

The Colombian peso continues to drop against the dollar, which broke through the COP2,500 barrier on Monday. The extent of the dollar’s appreciation came as a surprise for most analysts.

Economy

Colombia to delay $2.44B in spending due to oil price fall
Feb 22, 2015 Ξ Leave a comment

Colombia to delay $2.44B in spending due to oil price fall

posted by Reuters

Colombia will delay spending $2.44 billion (6 trillion pesos), some 3% of its national budget, due to a sharp fall in oil revenue, the government said on Saturday.

Economy

Colombia registers record trade deficit due to falling oil prices and cheap peso
Feb 22, 2015 Ξ Leave a comment

Colombia registers record trade deficit due to falling oil prices and cheap peso

posted by Adriaan Alsema

Following years of trade surpluses, Colombia ended the year 2014 with a record trade deficit due to decreased revenue of exports and growing imports.

Economy

Colombia ‘working with US’ in Ecopetrol corruption case
Feb 10, 2015 Ξ Leave a comment

Colombia ‘working with US’ in Ecopetrol corruption case

posted by EFE

Colombia and the United States are collaborating on a corruption probe involving Colombian state oil company Ecopetrol SA and U.S. executives, President Juan Manuel Santos’ office said Monday.

Economy

Santos’ priorities until 2018: peace, population census, Bogota metro and equality
Feb 9, 2015 Ξ Leave a comment

Santos’ priorities until 2018: peace, population census, Bogota metro and equality

posted by Nat Smith

Colombia’s congress on Monday began debating the government’s 2014-2018 Development Plan. This four-year policy framework includes a number of flagship policy proposals including peace-building, a metro for Bogota, a population census and  Full Article »

Economy

Swiss Leaks: Colombians parked $276.4M in Swiss HSBC accounts
Feb 9, 2015 Ξ Leave a comment

Swiss Leaks: Colombians parked $276.4M in Swiss HSBC accounts

posted by Adriaan Alsema

Almost 300 Colombians had $276.4 million parked on secret Swiss accounts managed by British bank HSBC, reported French newspaper Le Monde and investigative journalism collective ICIJ on Monday.

Economy

Colombia’s Avianca bolsters fleet by 100 aircraft
Feb 7, 2015 Ξ Leave a comment

Colombia’s Avianca bolsters fleet by 100 aircraft

posted by Nat Smith

Colombia’s national airline Avianca announced to be purchasing 100 new Airbus A320neos in an attempt to revamp its fleet.

Economy

Looking for loans: Colombia’s newest options
Feb 7, 2015 Ξ Leave a comment

Looking for loans: Colombia’s newest options

posted by Publicize

In the last 20 years, Colombia has risen from being a low-income country to a medium-income country, but there are still problems with a key part of economic growth: Ordinary  Full Article »

Economy

Colombia’s external debt grew to record levels in 2014: Central Bank
Feb 5, 2015 Ξ Leave a comment

Colombia’s external debt grew to record levels in 2014: Central Bank

posted by Nat Smith

Colombia’s external debt continues to balloon at a pace far more rapid than the country’s GDP growth, according to the central bank.

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