_Economy and Finance

Florencia Vazquez,Gustavo Arruda,Marcelo Carvalho,Nader Nazmi - Market Economics Daily Latam Spotlight | 13 Dec 2012 06:00 | Colombia: Imports rebound in October and reflect improved domestic demand. COLOMBIA Imports rebounded in October. Imports increased to USD 5.2bn in October from USD 4.8bn in the year-ago period, reflecting a 7.8% y/y increase. Imports rose 8.6% in the first eight months of the year over the same period in 2011.

Colombia Weekly Economics/FX/Interest Rate Teams,Rodrigo Fuenmayor,William Pereira - FX/Rates Colombia Weekly | 10 Dec 2012 16:12 | Summary The minutes show the BanRep’s resolve to remain on hold for a while. The minutes of November’s meeting (when the bank cut its policy rate by 25bp) appear very similar to the minutes of the October meeting (when the board remained on hold). Both sets of minutes are broadly neutral, in our view.

Colombia Weekly Rodrigo Fuenmayor, William Pereira, Economics/FX/Interest Rate Teams - FX / Rates Colombia Weekly | 04 Dec 2012 12:21 | Summary Strengthening labour market. The unemployment rate (urban areas) declined to 10.2% in October from 10.7% in the month before. This was better than the consensus expectation of 10.5%. The national unemployment rate was 8.9%. The strengthening of the labour market and continued availability of credit, albeit at a reduced pace, bode well for domestic consumption and demand.

Florencia Vazquez,Gustavo Arruda,Marcelo Carvalho,Nader Nazmi - Market Economics Daily Latam Spotlight | 04 Dec 2012 06:00 | Colombia: Record-low popularity for President Santos COLOMBIA Colombian President Santos’ support falls sharply. President Santos’s approval rating fell 15pp in one month to a record low of 45% in November. This was likely driven by a court ruling in favour of Nicaragua and against Colombia in a dispute over territorial waters in the Caribbean Sea. Last month, the International Court of Justice in the Hague ordered Colombia to give sovereignty of some territorial waters to Nicaragua. This order reduces Colombia's maritime borders in the Caribbean Sea and has prompted Colombia to withdraw from the International Court of Justice.

Colombia Weekly Central bank publishes neutral minutes. Notwithstanding concerns about soft Q3 growth, the Colombian central bank board is confident that robust growth is continuing in H2 thanks to strong domestic demand, according to the minutes of the 26 October board meeting, released on Friday.