Publications

This quarterly publication analyzes the evolution of key variables and indicators of the economic situation across seven regions of the country:

In 2024, the macroeconomic adjustment process continued, characterized by a sustained reduction in inflation that began in 2023 and a decline in the current account deficit of the balance of payments. This adjustment took place in the context of a contractionary monetary policy, with a gradual…

The Colombian labor market is characterized by high and persistent labor and business informality, a phenomenon commonly observed in many developing countries. According to the Colombian Household Survey (Gran Encuesta Integrada de Hogares - GEIH in Spanish), the labor informality rate…

As I have done in some recent presentations, I would like to begin this presentation with a general reflection. Specifically, I would like to reiterate something that may seem obvious to you but is nonetheless important. I am referring to the fact that the main objective assigned to Banco de la…

While inflation fell significantly in 2024, it continues above the 3% target. However, monetary policy measures and corrections in particular factors that exert upward price pressures have helped direct inflation toward the objective. Economic activity continues to recover and is expected to…

(Bogotá, D. C.; Cundinamarca)

The analysis presented in this edition of the Report concludes that the Colombian financial system continues to maintain adequate capital and liquidity levels that are not only above the regulatory minimums, but, in…

La revista Ensayos Sobre Política Económica (ESPE) del Banco de la República de Colombia proporciona, en un lenguaje accesible, información y análisis rigurosos y actualizados sobre temas relevantes para Colombia y la región, relacionados principalmente con la macroeconomía y el…

Inflation continues to decline, although it is still above the 3% target. Monetary policy measures and correcting factors that pushed prices up are helping inflation to continue approaching the target. Economic activity is recovering to a sustainable level, unemployment has decreased, and the…

During the second quarter, headline inflation remained stable, while core inflation (the measure of inflation that excludes temporary movements in the prices of food and regulated items) continued to decline. The aggregate effects of monetary policy, together with low exchange rate pressures,…

Inflation continues to fall, but it is above the 3% target, and it is projected to continue falling until it reaches it in 2025. Economic growth is low, but it would recover, and by 2025, economic activity would reach a path that can be sustained over time without causing unwanted changes in…

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…

(Bogotá, D. C.; Cundinamarca)

Report on the recent Evolution of External Debt of Colombian Banks - December 2023 (only in Spanish)

This report describes the recent evolution of the Colombian banking system’s foreign currency…

This report details the labor market's current situation according to the Official Colombian Household Survey (GEIH in Spanish) and the impact of the National Training Service’s (SENA in Spanish) labor skills certification program.According to data from the GEIH, between November 2022 and 2023,…