LatinNews Daily - 17 August 2020

* Colombia’s national statistics institute (Dane) has released data on GDP growth for the second quarter of 2020, which show that the country’s economy contracted by 15.7% year-on-year, due to the global economic crisis caused by the coronavirus (Covid-19) pandemic. This represents Colombia’s worst quarterly performance since records began in 1961, and the first quarterly contraction since 1999. Dane noted that the fall in activity was greatest in April (down 20% year-on-year), before easing to an 11.1% decline in June as quarantine restrictions were eased, and thus predicted a significant improvement in the third quarter. However, the overall picture remains bleak, with Colombia’s central bank (Banrep) projecting a contraction of between 6% and 10% for 2020 as a whole.

End of preview - This article contains approximately 120 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial