Main Reports NEW

Here you can find the statements, news and updates regarding eport of the Board of Directors to the Congress of Colombia available on the site

After facing the adverse effects brought on by the COVID-19 pandemic, in 2021 and 2022 the Colombian economy grew at a remarkable pace, reflected in a widening of the current account  deficit to levels close to its historical maximums (-5.6% and  -6.1% of GDP, respectively). In…

During the second quarter, headline inflation remained stable, while core inflation continued to fall. Inflation would continue its measured downward path to meet its 3.0% target by the end of 2025.

During 2022, Colombian companies that resorted to international fnancing sources faced interest rate increases and a sharp depreciation of the peso against the dollar (21%). This may have important implications for the balance sheets of real sector companies with a negative exchange rate…

The analysis presented in this edition of the Report allows concluding that the Colombian financial system has ample liquidity and solvency levels which are sufficient to confront the occurrence of extreme and tail risk events.

After the 2008 fnancial crisis, the U.S. Federal Reserve (Fed) drove the benchmark interest rate to historically low levels that became more pronounced in the wake of the covid-19 pandemic. At the same time, starting in March 2020 several measures to provide the market with liquidity were…

The increasing digitization of fnancial services has increased the system’s exposure to cyber-attacks. This could compromise the security of the information, its operability and, therefore, its stability. The materialization of a cyber-risk event that affects the payment system could disrupt the…

International Macroeconomic Environment 

Annual inflation has been decreasing for a year and is projected to continue, with inflation at 5.5% in December and the 3% target to be reached in 2025.

In compliance with Article 5, Act of Congress 31/1992, the Board of Directors of Banco de la República hereby submits to the Congress of the Republic of Colombia their Report to Congress on the macroeconomic results for the fi rst half of 2022 and the outlook for what remains of the year for its…

Transportation services play a critical role across all sectors of the economy by facilitating the movement of goods and services at all production levels. Although not all goods produced in a country require transportation due to inventory accumulation in industries and businesses or because…

Investment, a crucial driver of a country’s economic growth, is intricately linked with increased productive capacity and infrastructure. After a notable upturn in certain investment components in 2021 and 2022, Colombia experienced a significant investment decline in the past year. High levels…

In 2023, the Colombian economy experienced a slowdown in economic activity, registering annual growth of 0.6% after the historical highs experienced in 2021 and 2022. This same year, inflation began to converge to the target, reaching 9.3 % at yearend amid a backdrop of a weakening in domestic…

Banco de la República is celebrating its 100th anniversary in 2023. This is a very significant anniversary and one that provides an opportunity to highlight the contribution the Bank has made to the country’s development. Its track record as guarantor of monetary stability has…

Inflation continues to decline but remains well above 3%. It is anticipated to decrease significantly in 2024 and draw closer to the established target in the first half of 2025.

Inflation has decreased since April, and it is projected to continue to reduce significantly throughout 2024 as it converges toward 3%.

Each edition of the report has four objectives: 

1) to publicize a consolidated account of how the figures for payment infrastructures have evolved with respect to both financial assets and goods and services; 

2) to summarize the issues that are being debated…