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Colombia: Staff Report for the 1999 Article IV Consultation

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  • International Monetary Fund

Abstract

This 1999 Article IV Consultation highlights that the recession in Colombia intensified in 1999. The unemployment rate rose to a record 20 percent in September, while inflation fell to 9½ percent and the current account deficit came down sharply. The fiscal position deteriorated markedly during the first half of 1999, largely as a result of weak tax collections and higher outlays on interests, wages, and pensions. As market sentiment toward Colombia remained unfavorable, the peso came under repeated pressure, and on September 27, 1999, the central bank allowed the currency to float.

Suggested Citation

  • International Monetary Fund, 1999. "Colombia: Staff Report for the 1999 Article IV Consultation," IMF Staff Country Reports 1999/149, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:1999/149
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    Cited by:

    1. Kamps, Christophe & Meier, Carsten-Patrick & Scheide, Joachim, 2000. "Euroland: Strong upswing, risks to price level stability," Kiel Discussion Papers 359, Kiel Institute for the World Economy (IfW Kiel).
    2. Ilzetzki, Ethan, 2018. "Tax reform and the political economy of the tax base," Journal of Public Economics, Elsevier, vol. 164(C), pages 197-210.
    3. Sofiane Ghali & Pierre Mohnen, 2010. "Economic Restructuring and Total Factor Productivity Growth: Tunisia Over the Period 1983-2001," CIRANO Working Papers 2010s-26, CIRANO.
    4. Orphanides, Athanasios & Wieland, Volker, 2000. "Efficient Monetary Policy Design near Price Stability," Journal of the Japanese and International Economies, Elsevier, vol. 14(4), pages 327-365, December.
    5. Robert M. Stern, 2011. "Trade in Financial Services—Has the IMF been Involved Constructively?," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 5(1), pages 65-92, February.
    6. Ms. Elif C Arbatli Saxegaard & Mr. Kenji Moriyama, 2011. "Estimating a Small Open-Economy Model for Egypt: Spillovers, Inflation Dynamics, and Implications for Monetary Policy," IMF Working Papers 2011/108, International Monetary Fund.
    7. Wiesmann, Doris, 2006. "A global hunger index: measurement concept, ranking of countries, and trends," FCND discussion papers 212, International Food Policy Research Institute (IFPRI).
    8. Schweickert, Rainer, 2001. "Assessing the advantages of EMU-enlargement for the EU and the accession countries: a comparative indicator approach," Kiel Working Papers 1080, Kiel Institute for the World Economy (IfW Kiel).
    9. Grech, Aaron George, 2003. "The Framework of Monetary Policy in Malta," MPRA Paper 33464, University Library of Munich, Germany.
    10. Sofiane Ghali & Pierre Mohnen, 2002. "TFP and Economic Potential of The Tunisian Economy," Working Papers 0225, Economic Research Forum, revised 05 Sep 2002.
    11. Jane Harrigan & Hamed El-Said & Chengang Wang, 2006. "The IMF and the World Bank in Jordan: A case of over optimism and elusive growth," The Review of International Organizations, Springer, vol. 1(3), pages 263-292, September.
    12. Luis Carlos Jemio & Maria del Carmen Choque, 2003. "Employment-Poverty Linkages and Policies: The Case of Bolivia," Development Research Working Paper Series 05/2003, Institute for Advanced Development Studies.

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