Servicios
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High-altitude climbers know very well that the descent from the top can be as dangerous as the ascent, so they advance cautiously in this second stage of the journey to ensure a healthy return home. Something similar could be said of monetary policy. Risks do not disappear in the decline period of…
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Following the enactment of the 1991 Constitution, which increased the fiscal autonomy of subnational governments, there was a growing deterioration of territorial finances, which, in turn, threatened to jeopardize the fiscal position of the Central Government. In response, fiscal rules for…
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Economic observers who monitor monetary policy often compare the timing of interest rate increase or decrease cycle decisions across countries to determine which countries were ahead and which were behind in their decisions. This might be correct if the countries had identical economic performance…
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A paper recently published in the Borradores de Economía series (# 1267) analyzes some aspects of economic and financial education in Colombia using a survey that follows the methodology known as the “Big Three.” This methodology was developed by experts Annamaria Lusardi and Olivia Mitchell in…
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In a recently published blog on Banco de la República’s profits, it was shown that in 2023 these mainly came from the yield of foreign reserves, which in the last 10 years reached an average share of 84% of the Bank’s assets. The importance of foreign reserves in the Bank’s equity and origin of its…
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A Constitutional Reform Bill is currently under consideration in the Congress of Colombia that would substantially increase the percentage of the nation's current revenues to be transferred to territorial entities. This proposal implies a transfer of responsibilities and competencies from the…
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An understudied aspect of healthcare systems is the impact of the quality of the medical staff on the health performance of system users. A research paper in which Christian Posso (senior economist at Banco de la República) participated, and whose results were recently published in the series…
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A health system reform is currently being discussed which proposes that payment to Healthcare Service Providers (IPS in Spanish) be made directly by a public entity, the Administrator of Resources of the General System of Social Security in Health (ADRES in Spanish), based on fee schedules per…
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Recently, the National Administrative Department of Statistics (DANE in Spanish) published updated vital statistics data for the country, exhibiting a 14.6% decrease in births during the first four months of 2024 compared to the same months in 2023. This decline is more pronounced than the 11%…
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In 2021, the price of beef grew about 31% and has seen an additional growth of more than 4.0% as of February 2022. Read the full analysis in the new Banrep Blog post.
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The mismatch between the skills of workers and the needs of companies is a problem that affects the efficiency of labor markets in developing countries. The vocational education sector as well as technical and technological education and skills certification are mechanisms for adjusting this…
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The value added tax (VAT) exemption days policy has been used in the United States and in the European Union to encourage the consumption of goods and services that are important for lower-income households. In Colombia, after the crisis caused by the COVID-19 pandemic and to help boost the economy…
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The Political Constitution of Colombia 1991 established the Board of Directors of Banco de la República (the Central Bank of Colombia) as the monetary, exchange, and credit authority of the State, collegiate body in charge of directing and executing the Central Bank’s functions.
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At its meeting today, the Board of Directors of the Central Bank decided to continue with its program for the accumulation of international reserves through PUT options. The upcoming auction will be held on 28 February, in the amount of USD 400 million. The options will be in force between 1 March…
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Introduction
The macroeconomic scenario in Colombia changed substantially between 2020 and 2021. While some of the consequences of the Covid-19 pandemic are behind us, problems and imbalances persist and currently pose difficult challenges for economic policy. The pace of recovery in economic…
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At a meeting today, the Board of Directors of the Central Bank of Colombia agreed to make no change in the intervention interest rate. Accordingly, the repo auction base rate will remain at 3.50%. This decision was based on the following factors:
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Services:Gold Museum (only in Spanish)The Gold Museum of Banco de la República's mission is to preserve, research, catalog, and make known its archaeological collections of gold and silver work, ceramics, lithic, and other materials as a cultural heritage of current and future generations of…
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Services:Luis Ángel Arango Library (only in Spanish)The Luis Ángel Arango Library is the most important public library in Colombia and one of the most visited in the world, with about 5,000 visitors a day.
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Opening hours and services:Attention to the public (only in Spanish)Requests, complaints, claims, suggestions, compliments, and reports / Monday to Friday from 8:15 a. m. to 4:00 p. m.
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Opening hours and services:Mail Reception WindowMonday to Friday from 8:15 a. m. to 4:00 p. m.
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The opinions expressed in this document are those of the authors and do not necessarily reflect the views of Banco de la República or its Board of Directors..
ABSTRACT
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