Macroeconomic Forecast Colombia

January 2007 | Macroeconomic Forecasts

BMI View: According to recently-released finance ministry data, Colombia's public external debt load climbed to US$25.1bn in September 2006, which is equivalent to 18.8% of GDP. Total external debt stood at US$37.5bn for the month, and as such, it appears likely that the end-2006 figure came in close to our target of US$40.0bn (around 29.2% of GDP). Looking ahead, we anticipate that the external debt-to-GDP ratio will come down slightly over the forecast period, heading towards the 25.0-26.0% level by 2011, owing in part to the Uribe administration's efforts to rein in fiscal expenditure.

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