Financial Crisis

Following with the analysis of the effect of international the financial crisis and their repercussions on the economic perspective of the Latin American countries, today it is the turn of Colombia. It will affect to the country international the financial crisis? It will do how it? No longer they are doubts that by the magnitude that reached international the financial crisis, the same will have its negative impact on the Colombian economy. But the positive of the case, is that the crisis will not strike to Colombia of a way so to bring about a crisis to him to their economy. In this sense, site Colombian " Global&quot chain; , it picks up the declarations of the manager of the Bank of the Republic of Colombia, Jose Daro Uribe Escobar, who trusting about which the country is preparation to face the crisis said: " We are in an economy that has corrected the excesses of growth, in the credit, in the growth in the cost, that are accumulated international reserves, that has done the necessary thing to control the inflation and the expectations of inflacin". The possible one recession in the world-wide economy will be made feel in Colombia through channel of the foreign trade, which will hit on the economic growth. For that reason he is that the minister of Property, Oscar Ivn Zuluaga, recognized that the global crisis will affect so much to the economic, considered growth in a 4.0% for 2008 and 3.5% for the next one, like the use and the income of the country. The weakening of the Colombian external sector will feel probably as much in the exports of its commodities, whose prices stay gotten depressed, like in the nontraditional exports, affected by a smaller volume of sales. In relation to the impact of the crisis on the Colombian exports of commodities, site Colombian " Portfolio" , the Bank of the Republic reflects the conclusions of an analysis realised by investigators, that said: " The fall in a point in the prices of the commodities would affect the national economy in 0,21 percentage points.