Author(s) / Editor(s): 
Hernando Vargas, Pamela Cardozo, Foreign Reserves Department, Marco Antonio Ruiz, Portfolio Management Área, Diego Felipe Cifuentes, Risk Management Área, Carlos Alberto Álvarez, Development Section, Research and Analysis Group



The Banco de la República (Central Bank of Colombia) offers to the public this document, where all the details concerning the foreign reserve management are explained.

The Colombian Constitution and Law 31 of 1992, Article 14, assign the administration of international reserves to Banco de la República. They also specify that international reserves shall be managed according to strict criteria of safety, liquidity and profitability, in that order. The purpose of this document is to bring up to date the March 2009 report on Colombia’s International Reserve Management. 

This present report first introduces the main concepts associated with international reserves, and the framework providing a basis for their management by the Bank. It then describes in detail the country’s reserve management policy and the basic operational aspects of the policy. The report ends with an account of the current status of the reserves.

This content has been translated into English for informational purposes. Upon any query regarding its interpretation or enforceability, the Spanish version shall be deemed official, and will prevail over the English version. The authors of specific texts such as working papers or articles select the language of publication; therefore, there might be cases in which the content may only be available in English.