Economy & Business - April 2007

The central bank's fears over where the current mix of economic policies is leading was franked at the beginning of April when Sergio Clavijo, president of the Asociación Nacional de Instituciones Financieras (Anif) said that the economy was overheating. His comments came as blow to the government and its supporters who had been arguing that Colombia's detractors have been playing up the scandals involving the government's links with the Autodefensas Unidas de Colombia and ignoring the strength of the economy. The economy did grow strongly, by 6.8%, in 2006, but this growth has produced a surge in inflation. What bothers businessmen is that in the first three months of this year inflation has eaten away half the national wage increase that came into force in January. 

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