Servicios
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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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Each year, Banco de la República (the Central bank of Colombia) generates profits that, by law, must be transferred to the Government once the equity reserves in this same law have been deducted. In March of this year, Banco de la República will transfer to the National Government approximately 13…
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According to the prevailing view in Latin America of the mid-20th century—which saw active state intervention as essential for promoting development—central banks were assigned a significant role as development banks. On this basis, they were expected to direct part of domestic savings under…
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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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Recent installments of this Blog introduced crucial elements of monetary policy, such as the inflation target and the monetary policy interest rate. These elements are the building blocks of what is known as the target inflation framework —the general structure under which monetary policy operates…
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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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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…
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Headline inflation in January and February stood at 5.4% and 5.3%, respectively, above the level observed at the end of 2025 (5.1%). According to the CPI components, the increase in inflation was largely driven by services such as lodging and restaurants, recreation and cultural events, information…
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Headline inflation in May stood at 5.8% and core inflation (excluding food and regulated items) at 6.0%, moving further away from the 3.0% target, in line with the technical staff’s forecasts. The main upward pressures came from the services component, driven by increases in rents and other indexed…
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The Board of Directors considered the following elements:
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Between May and June, headline inflation rose from 5.8% to 6.1%, mainly driven by food and regulated items. Food inflation increased year-on-year from 6.0% to 6.8%, mainly due to higher prices for perishables. Inflation for regulated items rose from 5.2% to 5.9%, driven by higher rates for certain…
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In the eighth program of 'Cuentas y Cuentos,' Prieto gives details of the new instant payment system, a project that will benefit Colombians in the medium term.
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A common feature of modern central banks is their independence from the government. This autonomy is justified because the goals of the government and the central bank can differ. Typically, governments prioritize short-term growth and therefore favor low interest rates to boost demand and ease…
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Starting on October 6, person-to-business payments will be made through the new Bre-B button or zone provided by financial institutions on their digital channels.Banco de la República announces that the Bre-B operation continues to progress per the established timeline. On September 23, the Central…
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Banco de la República (the Central Bank of Colombia) and Colombia Fintech held an in-depth seminar on Bre-B and its benefits for technology-intensive and financial services initiatives and companies. Interoperability and proximity to fintech companies were the key aspects of the session, which…
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Banco de la República (the Central Bank of Colombia) received award in the category “Market Infrastructure and Payments Development – Retail Segment,” granted by Central Banking, in recognition of the progress achieved with Bre-B, the federated payment system that modernizes the country’s instant…
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The Informes Especiales de Estabilidad Financiera (Special Financial Stability Reports) accompany the publication of the Financial Stability Report and provide a more detailed analysis of some aspects and risks relevant to the stability of the Colombian financial system, including market liquidity…
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The interview, conducted by Renta4global Fiduciaria and published on its YouTube channel, notes: "In this fifth episode of Top Finance, our space for interviews with leaders of the financial sector, we spoke with Ana María Prieto, Director of the Payment Systems Department at Banco de la República…
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"According to the Colombian Household Survey (GEIH, by its acronym in Spanish), as of May 2026, employment in the national aggregate continues to increase in annual terms, mainly explained by the performance of rural areas. By employment status, the employment increase is concentrated in the non…
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Starting Friday 15 November, Banco de la República (the Central Bank of Colombia) will put into circulation the commemorative coin of the Guarniel or “Carriel Antioqueño” This new coin is minted for commemorative purposes to recognize the artisan craft associated with the manufacture of the…
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Tuesday, July 9. Miguel Urrutia Montoya passed away in Bogotá. He was former Governor of Banco de la República for 12 years, between 1993 and 2005.As part of his great legacy as the country’s central banker, Miguel Urrutia Montoya led the modernization of Banco de la República and its consolidation…
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Banco de la República provides its services and performs its functions with a process management approach based on 9 primary macro-processes, which are supported by 9 corporate macro-processes, as follows:
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According to Colombia’s Constitution, Banco de la República is an institution that operates independent of government. It enjoys administrative, patrimonial and technical autonomy and is subject to its own system of rules and regulations.
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