Colombia's economy seen as falling with oil prices
The impact of the fall in oil prices has had a 'domino effect' on Colombia's economy, says JP Morgan.
Back in 2013, the investment bank counted the country among the less vulnerable emerging markets. Now it has grouped it with Mexico, Brazil and Russia as the riskiest.
"The fact that oil price fell from more than US$100 to US$40 per barrel completely changed Colombia's outlook, as fiscal revenue was affected and that leads to other things," Andrés García-Amaya, macroeconomic analyst at JP Morgan, was quoted as saying by local paper Portafolio.
A factor that JP Morgan took into account is Colombia's current account deficit, which climbed to 7% in Q1 from 3.2% in 2013. Meanwhile, the country's fiscal deficit over GDP is expected to widen to 3.0% this year from 2.4% in 2013.
Pictured: Colombia's President Juan Manuel Santos
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Political Risk & Macro (Colombia)
Latin America’s forgotten shale plays
Latin America holds vast untapped shale resources, but only Argentina’s Vaca Muerta has achieved large-scale development as political, regulatory a...
Colombia curbs spot power sales, investors flag risks
The decree requires hydroelectric generators to allocate at least 95% of their hourly output through long-term contracts rather than the spot market.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Omega Green Biofuel Complex
- Current stage:
- Updated:
1 hour from now
- Project: Kuska (former Ollagüe)
- Current stage:
- Updated:
32 minutes from now
- Project: Sierra Gorda Grinding Line Expansion
- Current stage:
- Updated:
1 hour from now
- Project: Guanajuato Solar project
- Current stage:
- Updated:
15 minutes from now
- Project: Data Center SP6 (IBX)
- Current stage:
- Updated:
moments ago
- Project: Lima metro line No. 3
- Current stage:
- Updated:
5 minutes ago
- Project: Lima and Callao Metro - Line 4
- Current stage:
- Updated:
5 minutes ago
- Project: Lima - Barranca Railway
- Current stage:
- Updated:
28 minutes ago
- Project: Melo Photovoltaic Solar Park
- Current stage:
- Updated:
1 hour ago
- Project: Neon field (ex Echidna)
- Current stage:
- Updated:
2 hours ago
Other companies in: Political Risk & Macro
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Gobernación de Boyacá
-
Gobernación de Boyacá is a public-sector entity in Colombia, responsible for the administration and development of the Department of Boyacá. Headquartered in Tunja, the entity p...
- Company: Servicio Nacional de Aduanas (Aduanas de Chile)
-
Servicio Nacional de Aduanas is a Chilean public-sector entity operating in the customs and border control sector, responsible for supervising and regulating the movement of goo...
- Company: Secretaría de Desarrollo Urbano, Vivienda y Ordenamiento Territorial de Zacatecas (SEDUVOT)
-
Secretaría de Desarrollo Urbano, Vivienda y Ordenamiento Territorial de Zacatecas (SEDUVOT) is a Mexico-based public-sector entity engaged in urban development, housing, and ter...
- Company: Governo do Estado do Rio Grande do Norte (Estado do Rio Grande do Norte)
-
Governo do Estado do Rio Grande do Norte is a Brazilian state-level public administration entity responsible for policy execution and investment across infrastructure, energy, w...
- Company: Municipalidad Metropolitana de Lima
-
Municipalidad Metropolitana de Lima (MML) is the local government authority for the Province of Lima, Peru, operating in the public-sector infrastructure and municipal services ...
- Company: Federative Republic of Brazil (Governo Federal do Brasil)
-
Governo Federal do Brasil is the federal government of the Federative Republic of Brazil, operating in the public administration sector. Its main purpose is to formulate and imp...
- Company: Gobierno de la Provincia de Santa Cruz (Gobierno de Santa Cruz)
-
Gobierno de la Provincia de Santa Cruz is the provincial government of Santa Cruz, Argentina, operating in the public administration sector and responsible for policy implementa...
- Company: Dirección Regional Sectorial Agricultura de Ucayali (DRSAU)
-
Dirección Regional Sectorial Agricultura de Ucayali (DRSAU) is a regional public-sector agricultural authority in Peru. The entity was created as part of Peru’s regional governm...
- Company: Departamento Nacional de Planeación (DNP)
-
The Departamento Nacional de Planeación (DNP) is a Colombian government entity responsible for national development planning, public investment coordination and economic policy ...
- Company: Comisión Especial de Agua Segura para el Chaco (Comisión Especial Agua para el Chaco)
-
Comisión Especial de Agua Segura para el Chaco is a special legislative commission of the Cámara de Senadores (Senate) of Paraguay, operating in the public sector and water infr...
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
