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This paper analyzes the evolution and impact of capital flows in Colombia over the past five years. An examination of the nature and composition of the capital flows indicates that to large extent they have originated in foreign direct investment, especially in the oil and mining sectors. The…
Published in "Critical Issues in International Financial Reform", Albert Berry & Gustavo Indart (editors) Transaction Publishers, New Brunswick, NJ & London, UK 2003.
Capital inflows and outflows often remind policymakers of the monetary policy “trilemma” and the several associated dilemmas. To tackle these dilemmas, an equilibrium model of capital flows is proposed. The model captures bouts of capital inflows and outflows with shocks to the emerging-market…
SEACEN – CEMLA Conference “The Implementation of Monetary Policy: Lessons from the Crisis and Challenges for Coming Years”Kuala Lumpur. Malaysia
Under the Political Constitution of Colombia, Banco de la República, as the Central Bank of Colombia, has exclusive power to issue Colombian legal tender within the terms established by the law.Colombian banknotes, in addition to fulfilling the essential function of facilitating the daily…
Place of Birth: Ibagué, Tolima Date of Birth: Septiembre 5 de 1946 Profession: Economist
Article published on BIS Review, Bankers’ Speeches Section. 
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.
ABSTRACTThis paper analyzes the evolution of Cartagena's revenues, expenses and public debt in the period 2001-2018, considering the governmental crisis experienced due to several changes in local mayors during the last seven years. The results show, although the government crisis, fiscal revenues…
IMF Statistics Department Seminar. Washington, United States
Since: 1969
We assess the causes and implications of the greater nancial participation in commodity markets post-2003. Focusing on crude oil, we build a calibrated macro- nance model of oil prices and quantities that also determines consumer welfare. We show that shifts in the preferences and constraints of …
In the tenth episode of 'Cuentas y Cuentos', our guest, economist Celina Gaitán, member of the staff at Banco de la República (the Central Bank of Colombia, BanRep) and underwater rugby world champion, explains her vision of the current performance of the Colombian economy and how teamwork,…
This year, Banco de la República (the Central Bank of Colombia) hosted the 114th   Meeting of Central Bank Governors of the Center for Latin American Monetary Studies (CEMLA in Spanish). This meeting was held within the framework of the 100th anniversary of Banco de la República.
Since: 1929 | Until: 2023
The economic research of 30 central banks in OECD and Latin America countries from 2000 to 2007 is evaluated in this study. An international comparison based on four indexes that measure central bank research output, demand, productivity and relevance is included. From this view, the European…
The purpose of this paper is to analyze the links between central bank independence and foreing exchange policies, in the light of the recent experience of the major Latin American countries. To that end, the paper starts with a brief review of the literature on the subject. The second section of…
  Formats Intervention Rate
     
Central Banking is an international media outlet based in London that specializes in the coverage of central banking, monetary policy, financial stability, and related topics.In a recent article, it highlighted the intervention of Governor Leonardo Villar, who defended the importance of the Central…
Abstract A central counterparty (CCP) interposes itself between buyers and sellers of financial contracts to extinguish their bilateral exposures and –thus- to reduce counterparty risk. Therefore, this interposition should affect the way market participants engage in financial markets.
This section presents information about central national government operations under two methodologies, summarized below: The first set corresponds to a measurement of cash operations. This series includes historical information from the National Department of Planning and the latest official data…
This section presents information about central national government debt, summarized in the next tables:
This section presents information about central national government debt, summarized in the next tables: