Tuesday, March 2, 2021

Colombia Finance Chief Sees Asia-Like Growth If Rebels Disarm


Chinese President Hu Jintao (R) shakes hands with Colombian President Juan Manuel Santos during
a ceremony welcoming Santos’ visit to China at the Great Hall of the People in Beijing,
capital of China, May 9, 2012.

Colombia’s economy could see Asia- like growth of 6 percent to 7 percent “for decades” if the government strikes a peace deal with rebels in soon-to- begin negotiations, Finance Minister Mauricio Cardenas said.

An eventual deal with guerrillas of the Revolutionary Armed Forces of Colombia, or FARC, could open the country’s eastern plains to Brazilian-style agribusiness, and divert tax revenue from security and defense spending to more productive uses, Cardenas said in an interview in his Bogota office.

- Advertisement -

“My bet is that if anything is going to grow faster in Colombia with the end of the conflict, it’s going to be agricultural production,” the 50-year-old Cardenas said in an interview 17 days after being sworn in as finance chief. “We’re talking about palm oil, soybeans, rubber, sugarcane, things like that.”

The FARC surprised many Colombians Sept. 4 by agreeing to sit down with President Juan Manuel Santos’ government next month, in Oslo, for the first talks in a decade aimed at ending Latin America’s longest-running armed conflict. A U.S.-funded crackdown has already improved security for oil and mining companies across much of the Andean nation, helping lure record foreign investment that’s allowed Colombia to overtake Argentina as South America’s second-biggest economy.

While a peace dividend would spur growth and investment even further, the economy can still grow at an “outstanding” long-term pace of 4.5 percent to 5 percent even if the talks fail, Cardenas said.

“I don’t want to give the impression that our success and the good momentum of the Colombian economy hinges on good results in that process,” said Cardenas, who served as Santos’ mining minister before switching jobs as part of a Cabinet shake-up. “It would be a nice thing to have, it will add to economic growth, but we already have outstanding economic growth.”

- Advertisement -

Cardenas’ comments came the same day the national statistics agency reported that economic growth accelerated in the second quarter.

The FARC have been waging war on the Colombian state for nearly five decades, leaving large parts of the Andean nation off-limits for investors.

Agriculture has been held back more than energy and mining by the guerrillas, since oil facilities are more localized and easier to protect than farms, Cardenas said.

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Rico
"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes TodayColombia.com. Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

Related Articles

Bogotá, Medellín and Cali: the cities with the most violations of measures against covid-19

QCOLOMBIA - Since the mandatory isolation began in Colombia, 1,400,387 finess...

What happens if a Colombian does not attend the scheduled covid-19 vaccination appointment?

QCOLOMBIA - A few days after starting the National Vaccination Plan,...

MOST READ

What happens if a Colombian does not attend the scheduled covid-19 vaccination appointment?

QCOLOMBIA - A few days after starting the National Vaccination Plan, Colombians still have some doubts regarding their immunization process and there is fear...

We do not move even half the passengers we would have on a normal day: Transmilenio manager

QCOLOMBIA - The public transport system in Colombia has been one of the worst-hit sectors since the start of the coronavirus pandemic, as quarantines...

Colombia Suffered Its Deepest Slump Since 1905 Last Year

(Bloomberg) -- Colombia’s economy suffered its deepest contraction in more than a century last year, leaving it wracked by soaring debt, mass unemployment and...

Colombia receives first batch of vaccines

QCOLOMBIA - Colombia advanced the start of the immunization campaign against the coronavirus to February 17, three days ahead of schedule, after receiving the...

There’s A Good Chance Your Valentine’s Flowers Come From Colombia

QCOLOMBIA - If you send a bouquet of roses for Valentine's Day, chances are they were grown in Colombia. It remains the No. 1...

Colombia begins 2021 with a reactivation of 55% in flights

QCOLOMBIA - The end of the year travel season arrived with important expectations of recovery for the tourism sector. The improvement in the tourist...

Pope thanks Colombia for efforts to protect migrants

Q REDAQTED (Vatican News) - “I always look with gratitude at the efforts of those who work for migrants,” Pope Francis said on Sunday...

Colombia okays US$38 billion dollar reactivation plan

QCOLOMBIA - Colombia’s economic and social policy council (Conpes) has greenlighted a 135 trillion Colombian peso (US$38 billion) economic reactivation plan, which will be...

Colombian Clever Leaves made first shipment of medical cannabis to the U.S.

QCOLOMBIA - Clever Leaves, a Colombian company authorized to handle pharmaceutical grade cannabinoids, announced that its subsidiary, Herbal Brands, managed to establish a strategic...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!