Servicios
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This special report analyzes the dynamics of Colombia´s real estate market and mortgage credit during the second half of 2024 and the first two months of 2025. It seeks to identify potential sources of vulnerability that may affect economic and financial stability. Specifically, it studies credit…
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Between 22 April and 03 May 2024, the International Monetary Fund (IMF) provided technical assistance to assess the Colombian foreign exchange market and its regulatory framework, and to identify strategies to strengthen its development while ensuring the preservation of financial stability.
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As part of the inflation-targeting framework governing monetary policy in Colombia, Banco de la República uses the monetary policy interest rate (MPR) as an instrument. By changing the MPR, Banrep induces variations in market interest rates at different terms and in asset prices, thereby…
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Reserve requirements are an economic policy instrument that has historically played an important role in the fulfillment of the central bank’s mission worldwide. This requirement, set by the monetary authority of each country, mandates that banks and other credit institutions (CIs) to maintain a…
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After conducting a comprehensive review of the sanctioning regimes applicable to foreign exchange and monetary operations, Banco de la República (BanRep) introduced a new framework of consequences for addressing non‑compliance within the context of open market operations (OMOs), liquidity…
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At the 19 December 2023 meeting, the Board of Directors of Banco de la República (BDBR) announced the decision to gradually accumulate up to USD 1,500 million (m) in foreign reserves (FRs). The purpose of this measure was to strengthen Colombia’s external liquidity, consolidate the positive…
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The year 2025 will be a key for the payments industry with the launch of Bre-B, the new interoperable instant payments system developed by Banco de la República in collaboration with the fnancial industry since 2022. This system will allow real-time transfers with crediting of funds across all…
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This special report analyzes credit risk exposure and performance among credit institutions (CIs) using the latest available data, aiming to continue with the detailed monitoring of the evolution of delinquency. It complements the analysis presented in the Financial Stability Report for the second…
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Financial Infrastructure in ColombiaPayment Infrastructure in Financial MarketsIn 2024, Banco de la República’s (the Central Bank of Colombia) large-value payment system (Deposit Accounts System, CUD by its Spanish acronym) exhibited greater dynamism. The average daily value of settled transactions…
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Global growth expectations were revised downward, particularly for the US and its major trading partners, due to a deterioration in the external environment and increasing trade tensions.The adjustment in projections for developed economies reflects the uncertainty generated from trade policy…
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The international environment remained characterized by high uncertainty, although with signs of economic resilience.Global financial markets began the second quarter of 2025 (2Q25) amid trade tensions driven by new policy announcements by the United States.
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The international environment was characterized by lower interest rates in the U.S.
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Main Characteristics of Banco de la República’s Reserves Management PolicyReserves are invested in financial assets with high levels of safety and liquidity, characterized by a large secondary market.The percentage of reserves that remains available to cover immediate liquidity needs, known as…
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Given the increase in the working-age population, the employment-to-population rate (ER) remained stable in the recent period, standing at 57.5% in the last rolling quarter, with a notable difference between urban areas (59%) and other municipalities and rural areas (55.9%).
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As of February 2025, employment continued to grow at an annual rate of 3.9%, primarily driven by rural employment, which grew at a 4.9% rate.This has resulted in a 1.4 percentage point (pp) increase in the employment-to-population rate (EPR) and a 1.8 pp rise for rural areas. As a result, EPRs…
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National employment grew by 3.4% annually, driven by greater growth in other municipalities and rural areas (4.5%), while urban employment grew at a moderate rate of 2.5% annually.As a result, the national employment to population ratio (EPR) grew by 1.1 percentage points (pp) annually, driven by a…
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According to the Official Colombian Household Survey (GEIH), as of August 2025, national employment continued to grow.
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Notes at the 27th Asobancaria Treasury CongressLeonardo Villar, Governor of Banco de la República (the Central Bank of Colombia)Cartagena, 13 February 2025Thanks to Asobancaria, and particularly to Jonathan Malagón and Alejandro Vera for the invitation to this event.
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Cartagena, June 4, 2025I would like to begin by expressing my gratitude for this opportunity to take part in this event, and extend a very special greeting to Mr. Jonathan Malagón, president of Asobancaria, Mr. Javier Suárez, chairman of its Board of Directors, all the members of the Association,…
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Rising Corporate DelinquencyDelinquency in the commercial loan portfolio has increased, particularly in the commerce sector, due to the post-pandemic economic adjustment. An increase in credit demand could help mitigate this vulnerability.
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Deterioration of the Local Fiscal SituationA weaker fiscal position can increase the economy’s vulnerability to external shocks and limit the scope for policy responses. This vulnerability may translate into higher risks for the financial system.
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According to the Regional Economic Pulse (Pulso Económico Regional, PER in Spanish) indicator, the national economy seemingly expanded in annual terms during the fourth quarter of 2025, albeit at a slower pace than in the third quarter (Graph 1). The annual growth in regional economies was mainly…
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The Regional Economic Pulse (Pulso Económico Regional, PER in Spanish) indicator suggested that the national economy experienced annual growth during the third quarter of 2025 (Graph 1). This aggregate result could be attributed to the positive performance of all regional economies, with Antioquia…
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Macroeconomic environmentThe International Monetary Fund (IMF) and the World Bank estimate that the global economy grew by 3.2% in 2024, a rate similar to that observed in 2023 (3.3%). This occurred in a context of moderating inflation and declining monetary policy interest rates in most countries.…
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Cartagena,
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