Rougher Riding

COLOMBIA - Forecast 29 Jul 2013 by Veronica Navas and Andrés Escobar Arango
Executive SummaryUnder the government and central bank’s balance of payments outlook for 2013-2017, the current account deficit is expected to peak this year and next at 3.4% of GDP, then fall to below 3% of GDP by 2017. But the capital account surplus is on track to fall from 4.3% this year to 3.5% in 2014, as the need to contain currency appreciation dwindles. Starting in 2014, excess liquidity in international markets should slowly dissipate. That should stabilize international reserve volatility, and gross international reserves should rise to $43.3 billion by 2017, from $41.2 billion t...

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