LatinNews Daily - 05 November 2020

* Colombia’s central bank (Banrep) has revised up its estimate for economic growth in 2020, predicting a contraction of 7.6%, less than the 8.5% decline previously projected in July. In the same report, Banrep predicted that 4.6% growth would be achieved in 2021, a less optimistic outlook than the government, which is forecasting 6.6% growth next year. Banrep emphasised that these figures are still subject to change dramatically, given “the high uncertainty that exists about the evolution of the [coronavirus] pandemic, the possible measures needed to face it, and its effects on global and local economic activity”. The growth projection for 2020, for instance, is based on President Iván Duque’s assertion that there will be no surge in infections or a second national lockdown in Colombia.

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