Servicios
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Monetary policy decisions require taking into account the multiplicity of factors that affect price levels and their increase, considering that the interest rate can only influence some of them. Likewise, such decisions must also contemplate the time horizon in which the benefits for society are to…
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Labor regulation protects workers, but it also imposes costs on employers. There is evidence that such costs may cause informality and unemployment, as they hinder the hiring of formal employees and the formalization of self-employed workers.
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A health system reform is currently being discussed which proposes that payment to Healthcare Service Providers (IPS in Spanish) be made directly by a public entity, the Administrator of Resources of the General System of Social Security in Health (ADRES in Spanish), based on fee schedules per…
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The Colombian peso has exhibited a volatile behavior and a significant depreciation in recent months. In view of this trend, the question arises as to whether an intervention by Banco de la República (the Central Bank of Colombia) in the foreign exchange market to stabilize the currency would be…
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Education is the fundamental mechanism for accumulating human capital that allows social mobility across generations, overcoming poverty, and mitigating inequality. However, in Colombia, as in other developing countries, access to quality education has historically been unequal, mainly affecting…
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Population aging poses a serious challenge to the Colombian pension system.
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Among the sources of external financing of the Colombian economy, in addition to foreign direct investment (FDI), the country also receives other significant resources known as portfolio flows. These flows are a major source of financing for the Government and for private companies. Portfolio…
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The Colombian economy has been increasing its growth pace over the past quarters in response to the strengthening of domestic demand, which expanded by 4.3% annually in the first half of 2025, more than double its growth in 2024 (2.0%). The rise in domestic demand has been driven by the notable…
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The relationship between the management of public finances and the business cycle has been of great interest in economic research. Studies on the subject coincide in pointing out that industrialized countries are characterized by a counter-cyclical fiscal policy, while emerging countries are…
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Since 2009, the Financial Stability Department of Banco de la República (the Central Bank of Colombia) has been conducting the quarterly survey on the credit situation in Colombia. This survey is addressed to financial market intermediaries that carry out credit transactions (banks, commercial…
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Recently, the National Administrative Department of Statistics (DANE in Spanish) published updated vital statistics data for the country, exhibiting a 14.6% decrease in births during the first four months of 2024 compared to the same months in 2023. This decline is more pronounced than the 11%…
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Recently, the National Administrative Department of Statistics (DANE in Spanish) published updated vital statistics data for the country, exhibiting a 14.6% decrease in births during the first four months of 2024 compared to the same months in 2023. This decline is more pronounced than the 11%…
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In recent years, remittance inflows from workers to Colombia have been increasing at rates that exceed the figures for economic activity growth. As a result, their share of GDP reached an all-time high of 2.8% in 2024, up from just 1.1% a decade ago.
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Remittance inflows are mainly flows of foreign currency sent periodically by emigrants to their families in the country of origin for various purposes such as contributing to household support, children's education, the purchase of housing or other investments that generate capital income for the…
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Whenever the monetary authority meets to make interest rate decisions, two key questions need to be answered: Where is the economy at? and Where is the economy headed? Answering these questions is no easy task. On the one hand, the lag in statistical information makes it difficult to have a…
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Socio-economic strata are categories assigned to subdivisions of Colombian cities according to housing and environmental characteristics. They were established in 1994 to aid to cross-subsidize the price of utilities. At the time, they were considered an effective targeting alternative due to their…
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In 2021, the price of beef grew about 31% and, as of February 2022, has seen an additional growth of more than 4.0%. As can be seen from Graph 1, this increase coincided with similar increases in chicken and pork prices up to October 2021 in contrast to the relative stability seen since 2017.…
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In 2014, Decree 2616 introduced a change in regulation that lowered payroll taxes for low-income, part-time workers in Colombia. The reform made the mandatory contributions to social security proportional to the time worked when the monthly wage was lower than the minimum wage.
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As a complement to the Blog published on 07 November 2023, this new entry continues with the review of the Technical Remarks prepared by two members of the Board of Directors of Banco de la República (the Central Bank of Colombia) (only in Spanish) —Bibiana Taboada and Mauricio Villamizar.
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In 2015, Colombia signed the Paris Agreement, thus committing to reduce the exploration, exploitation, and consumption of fossil fuels such as coal, natural gas, and oil. A consequence of this agreement is the risk of turning fossil fuel-related assets into stranded assets, whose value would…
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The mismatch between the skills of workers and the needs of companies is a problem that affects the efficiency of labor markets in developing countries. The vocational education sector as well as technical and technological education and skills certification are mechanisms for adjusting this…
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The mismatch between the skills of workers and the needs of companies is a problem that affects the efficiency of labor markets in developing countries. The vocational education sector as well as technical and technological education and skills certification are mechanisms for adjusting this…
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In September last year, a blog was published announcing the quarterly publication of the National Accounts by Institutional Sector (CNSI in Spanish), which include the national accounts by the National Administrative Department of Statistics (DANE in Spanish) and the financial accounts by Banco de…
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Banco de la República's Financial Stability Report of the first semester of 2021 showed that during the first six months of 2020 (in a recessionary context derived from the global pandemic) total commercial credit from Colombian financial institutions to firms increased significantly. This…
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The value added tax (VAT) exemption days policy has been used in the United States and in the European Union to encourage the consumption of goods and services that are important for lower-income households. In Colombia, after the crisis caused by the COVID-19 pandemic and to help boost the economy…
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