Treaties Year

This extension of the fiscal goals does not mean that Colombia decides to take an irresponsible attitude increasing its deficit, but certainly responds to a necessity to attenuate the amplitude of the economic cycle so that it does not have deep a social impact. To the efforts that will have to make the policy fiscal to attenuate the impact of the crisis, the Central bank of Colombia will have to make its part. For the meeting of the present month, one hopes that the organization again trims its interest rate of reference although in December the inflation has finalized in 7,67%. For the 2009 inflationary expectations of the governing organization of the monetary policy in Colombia they are located in 5%, consequently the goal would be fulfilled that is located exactly in this level (with a means margin percentage point towards both sides). It is that the deterioration as much of the internal context as external they reduce the inflationary pressures of the economy. But returning to the context raised for the present year in the Colombian economy, beyond these disadvantages that will have to face the same, the economy is prote’ge’e before a possible worsening of the situation.

It is that the Colombian economy account with resources to do against situation of crisis and to any unexpected shock that can affect it, which increases the strength of the same. In this sense, the minister of Property, Oscar Ivn Zuluaga maintained that several contingent lines exist that the country could use before some missing one of liquidity, that in the case of the International Monetary Fund (the IMF) could promote until the US$ 6,000 million in case of being necessary. Colombia has place setting its financial program for this year and it will not have problems in covering the one with the incoming year. It clears the panorama of any possible situation is stress for want of resources before international financial markets practically closed. The 2009 will be a hard year for Colombia, although it will not affect his good perspective in the medium and long term. The government of Uribe will have to have like objectives to reach during this year, besides avoiding the deepening of the economic deceleration, continuing with the improvement in the competitiveness of the economy and to advance more quickly possible in the celebration of new Treaties of Libre Comercio (TLC), to reduce the external dependency and to extend the possible fan of destiny of Colombian products.