International Reserves in Colombia
Colombia - International ReservesIncoming data continues to paint a dire picture of the economy in the second quarter, amid a collapse in output due to the Covid-19 pandemic and low oil prices. In May, exports collapsed around 40% after having plummeted 50% in April, while the unemployment rate hit a record high and consumer confidence clocked the second-worst result on record. That said, the manufacturing PMI jumped into expansionary territory in June, suggesting that an easing of the lockdown measures could have helped restart economic activity. In addition, the government announced three tax-free holidays in June and July to help kick start consumer spending, waiving the 19% VAT. While it bodes well for retail sales figures as large crowds came out, the move has been widely criticized due to the possible implications for public health.
Colombia - International Reserves Data
|International Reserves (USD)||46.7||46.7||47.6||48.4||53.2|
5 years of economic forecasts for more than 30 economic indicators.
Colombia International Reserves Chart
Source: Colombia Central Bank and FocusEconomics calculations.
|Bond Yield||6.08||0.0 %||Dec 30|
|Exchange Rate||3,287||-0.17 %||Jan 01|
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July 7, 2020
The Fedesarrollo consumer confidence index came in at minus 33.1 in June, up marginally from May’s minus 34.0 but still representing one of the worst readings on record.
July 2, 2020
The seasonally-adjusted Davivienda manufacturing Purchasing Managers’ Index (PMI) rose by over 17 points in June, recovering after the worst readings on record in April and May.
June 30, 2020
Exports plummeted 40.3% over the same month last year in May, marking one of the worst declines on record as the coronavirus pandemic halted the domestic and global economy.
June 30, 2020
On 30 June, Colombia’s Central Bank (BanRep) decided to cut the benchmark interest rate by 25 basis points to a new record low of 2.50%.
June 12, 2020
Industrial production declined a notable 35.8% year-on-year in April (March: -8.7% yoy).