Weekly Report - 4 January 2007

COLOMBIA: Minimum wage increase. The government increased the minimum wage, received by some 4.5m workers,by 6.3% to Col$434,000 (US$195) a month for 2007. It approved the increase by decree on 27 December after unions and employers failed to reach an agreement in talks. Employers had actually offered 7%; unions wanted 10%. Transport subsidies will increase 6.5% to Col$50,800 (US$23) a month. Inflation for 2006 was estimated at 4.5%. 

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