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Co-Director Jaramillo Expects 'Significant' Damage From Unrest

COLOMBIA
  • Colombia central bank co-director Jaramillo speaks in interview:
    • Expects significant damage from unrest
    • Colombia could permit above-target CPI amid recovery
    • Colombia downgrade to junk wouldn't be a big deal
  • As per Bloomberg:
    • Colombia faces a "grim" economic growth outlook this year due to social unrest and a surge in Covid-19 infections, according to the central bank's newest co-director.
    • This means that the economy is unlikely to expand 6% in 2021 as forecast by the bank earlier this month, said Jaime Jaramillo, who was named to the board in February.

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