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Since early 2024, interest rates on long-term Colombian government debt bonds, hereafter referred to as government bonds, have been increasing. This means that the government must pay more interest on its debt, so a larger share of its revenues must be allocated to cover such interest payments…

Since early 2024, interest rates on long-term Colombian government debt bonds, hereafter referred to as government bonds, have been increasing. This means that the government must pay more interest on its debt, so a larger share of its revenues must be allocated to cover such interest payments…

The Political Constitution of Colombia 1991 established the Board of Directors of Banco de la República (the Central Bank of Colombia) as the monetary, exchange, and credit authority of the State, collegiate body in charge of directing and executing the Central Bank’s functions.

At its meeting today, the Board of Directors of the Central Bank decided to continue with its program for the accumulation of international reserves through PUT options. The upcoming auction will be held on 28 February, in the amount of USD 400 million. The options will be in force between 1 March…

IntroductionThe macroeconomic scenario in Colombia changed substantially between 2020 and 2021. While some of the consequences of the Covid-19 pandemic are behind us, problems and imbalances persist and currently pose difficult challenges for economic policy. The pace of recovery in economic…

At a meeting today, the Board of Directors of the Central Bank of Colombia agreed to make no change in the intervention interest rate. Accordingly, the repo auction base rate will remain at 3.50%. This decision was based on the following factors:

Services:Gold Museum (only in Spanish)The Gold Museum of Banco de la República's mission is to preserve, research, catalog, and make known its archaeological collections of gold and silver work, ceramics, lithic, and other materials as a cultural heritage of current and future generations of…

Services:Luis Ángel Arango Library (only in Spanish)The Luis Ángel Arango Library is the most important public library in Colombia and one of the most visited in the world, with about 5,000 visitors a day.

Opening hours and services:Attention to the public (only in Spanish)Requests, complaints, claims, suggestions, compliments, and reports / Monday to Friday from 8:15 a. m. to 4:00 p. m.

Opening hours and services:Mail Reception WindowMonday to Friday from 8:15 to 16:00

The opinions expressed in this document are those of the authors and do not necessarily reflect the views of Banco de la República or its Board of Directors..   ABSTRACT  

Twenty years after the creation of the Center for Regional Economic Studies (CEER in Spanish), this work compiles its history and recalls the particularities of the Caribbean region through six dimensions: historiography, economic and social studies, archeology, political structures, culture, and…

Autobiographical notes by Hans SitarzHans Sitarz (1889-1958) was a European trader and banker who lived most of his life in Latin America and the United States. Through this publication, excerpts from his personal annotations become available for the first time to a broad public. This was an…

In this edition of Elementos de Hacienda Pública (Elements of Public Treasury), the work of the lawyer and politician Clímaco Calderón from Boyacá, initially published in 1911 by the Imprenta de La Luz in Bogotá, the spelling prevailing at the time was preserved. For example, the Spanish…

In Colombia, agreements are hard to reach. However, there was consensus in the National Constitutional Assembly, among the participants from different ideologies and parties, on the advisability of comprehensively reforming Banco de la República and turning it into an independent central bank. The…

Foreword written by Mauricio Villamizar‑Villegas and Lucía Arango‑LozanoMonetary policy is a fascinating subject that is always at the center of economic discussions, whether in classrooms, media headlines, or everyday conversations. However, understanding it in depth requires more than a…

The Casa Grande Caribe (The Caribbean Grand House) initiative was conceived as a strategy to overcome the regional social backwardness of the Colombian Caribbean. This work contains studies that estimate investment needed in education, nutrition, health, and water and sewage to close the regional…

The commemoration of fifteen years of activities of the Center for Regional Economic Studies (CEER in Spanish) has a special significance within the institutional life of Banco de la República (the Central Bank of Colombia) because its creation meant a significant step forward in the purposes of…

This book is considered to be a significant contribution to understanding the economic history of Colombia in the first half of the 20th century. Leading analysts who have examined the 1900-1940 period cite it as an essential source for their research. Despite its relevance, this text has not been…

Interested in exploring trade possibilities with Colombia, the Department of Commerce sends Mr. P. L. Bell to study the situation of agriculture, industry, mining, and commerce in Colombia. It seems that he was in the country in 1918 and 1919. The report was published in 1921.

In March 1891, a businessman from Santa Marta sent 1,500 bunches of bananas to New York, the first export of this product from Colombian territory. Lack of knowledge of proper transportation caused much of the fruit to be damaged before it reached its destination. Still, with this action, a local…

This essay aims to review the main economic writings by Rafael Núñez and analyze his economic thought. Thus, it aims to focus on the historic role of Núñez as an economist rather than a statesman or as the leader of the period known as "Regeneración." By way of introduction and as a frame of…

“El Estado General de todo el Virreynato de Santafé de Bogotá de 1794" (Overview of the Viceroyalty of Santafé de Bogotá, 1794) is a map of a land far away in time, the viceroyalty of the Nueva Granada at the end of the 18th century. In this contemporary compendium, historians and curious readers…

This compilation contains a sample of the types of proposals and reflections on monetary issues that occurred in the country during the first republican century. It includes projects to establish public and private banks, diagnoses of the country's monetary problems, considerations about the…