Medina-Smith concludes that capital flight during the period surveyed 'was not the result of the sociopolitical, legal, institutional or psychological circumstances that prevailed in the country'; he says there was a strong speculative component
.
COLOMBIA | Growth outlook. GDP in the first half of this year was up 4.16% on the same period last year, with expansion accelerating towards the end of the period. The most dynamic sectors were construction (up 10.3%), commerce (5.4%), manufacturing (5.1%), transport and communications (5.1%) and the extractive industries (4.8%). The 4.3% growth recorded in the second quarter is weighted down by the estimated decline in drug crops: if this is excluded, the rate would be 4.5%.
COLOMBIA | Unemployment up. Open unemployment rose in August to 13.1%, from the 12.9% recorded in July. This rate is 1.7 points less than that of a year earlier. Underemployment, at 30.8%, was down 8.1% year-on-year.
ECUADOR | Less unemployment at home. Open unemployment has shrunk from 10.5% in June to 9.9% in July, and underemployment has fallen by almost half a point to 42%, according to the latest central bank figures. No cross-reference is made to the continuing high rate of emigration, which has acted as a safety valve: since 1998 some 2.5m Ecuadoreans (equivalent to 54% of the current workforce) have emigrated.
End of preview - This article contains approximately 311 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
