Lined Up For Strong Growth

BMI View: In exceeding even our above-consensus forecast of 6.4%, Colombia's strong performance of 7.5% real GDP growth 2007 on the back of particularly strong Q4 data of 8.1% is particularly encouraging. Nevertheless, while fourth quarter results belied the deterioration in the wider external environment, we believe that such signs will manifest over the course of 2008, which will moderate annual growth to 4.8%.

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