International perspectives : Colombia market outlook 2020/21

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      <subfield code="a">International perspectives</subfield>
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      <subfield code="a">Although a -7.9% GDP contraction is currently projected for 2020, rapid economic recovery may still occur in 2021-22 if current COVID-19 restrictions ease by the end of the year. Colombia's strong track record of prudent macroeconomic and fiscal management has enabled year-on-year economic growth since 2000. Growth was on track to accelerate further in 2020, however, the COVID-19 pandemic slowed projections. Beyond the medium-term, the outlook depends on the duration and severity of the crisis, the way and speed at which the fiscal deficit will be reduced, and the country's ability to address existing structural bottlenecks.</subfield>
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