IMF: Colombian economy will fall 8.2% in 2020; 4% growth in 2021

The International Monetary Fund lowered its forecast for Colombia. Last june it had projected a decrease of 7.8%, but lastest figures predict a -8.2% contraction. In september, Colombia increased by $ 6.5 billion its flexible credit line with the IMF. The agency expects a 4% rebound by 2021. Regarding the regional Gross Domestic Product, the entity forecasts a contraction of 8.1% compared to the 9.4% forecast in June, and a regional recovery of 3.6%. The Fund added that the outlook continues to be “precarious” in emerging economies.

Source: El Espectador