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UPDATE 2-IMF sees Colombia growth recovering in 2010

Fri Nov 7, 2008 1:13pm EST

BOGOTA, Nov 7 (Reuters) - Colombia is resisting the global financial turmoil well and its growth should recover in 2010 after slowing though next year as trade partners face weaker expansion, the International Monetary Fund said on Friday.
Colombia's central bank chief said on Friday that he expected the country's economy will grow around 3.5 percent in 2008 and around 3 percent next year while inflation will be around 4.5 percent in 2009.
"Colombia has resisted the turbulence in international financial markets well," Benedict Clements, head of the visiting IMF mission, said in a statement to reporters.
"The local debt and interbank markets are continuing without upheaval and no signals of pressure in liquidity have been observed," he said.
The government recently cut its 2008 economic growth target to around 4 percent as it took stock of the impact from the world financial crisis. But the central bank said it expects 2008 growth at 3.5 percent or maybe less. (Reporting by Javier Mozzo, writing Patrick Markey in Bogota, Editing by Chizu Nomiyama)

From: http://www.reuters.com/article/companyNewsAndPR/idUSN0741148620081107

By TobyBoy on Nov 8, 2008, 10:16 in Friendly Talkzone.

Mongo says on Nov 8, 2008, 10:54:

That's great news! Thanks for the article.

"Here in Colombia, it's about adding life to your years, not years to your life." Brian Andrews

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Simon says on Nov 8, 2008, 16:06:

Way to go Colombia!

"DON'T FOK WITH COLOMBIA!!"-----Simon

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