Historical background of the public debt in Colombia. A general introduction to the management of public debt in Colombia during the postwar period, 1950-1970.
The series Working Papers on Economics is published by the Office for Economic Studies at the Banco de la República (Central Bank of Colombia). The works published are provisional, and their authors are fully responsible for the opinions expressed in them, as well as for possible mistakes. The opinions expressed herein are those of the authors and do not necessarily reflect the views of Banco de la República or its Board of Directors.
In this essay, the Colombian experience with internal and external debt since the end of the war up to 1970, is discussed. Following a common thread of previous essays, that experience is commented in the international context. The document highlights important similarities and contrasts between Colombia and the rest of the Latin American region. Regarding the external debt, it is shown that the recovery of external financing after the war came first in the form of direct investment rather than in foreign credits, and how debt relief continued to be a fact of life during the 1950s and 1960s. As for internal indebtedness, the article exposits in detail the process by which, after a pause during the 1950s, the series of internal debt achieved growth rates relatively high during the 1960s.
La serie Borradores de Economía es una publicación de la Subgerencia de Estudios Económicos del Banco de la República. Los trabajos son de carácter provisional, las opiniones y posibles errores son responsabilidad exclusiva del autor y sus contenidos no comprometen al Banco de la República ni a su Junta Directiva.
