IMF report supports Colombia’s policy tightening
Colombia vulnerable to external shocks and needs higher reserves, IMF staff say
The Central Bank of Colombia’s acceleration in monetary tightening is adequate to bring inflation down to its 3% target, International Monetary Fund staff said.
“To control rising consumer prices and prevent second-round effects from supply-side factors, accelerated monetary tightening by the central bank is appropriate,” the IMF staff said in the concluding statement of their Article IV mission.
The authorities also needs to increase foreign exchange reserves due to Colombia’s external
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