Colombia and Peru are studying the possibility of centralizing gold purchases, in an effort to combat illegal and informal extraction. Colombian President Ivan Duque said his government is considering the move to stymie the role illegal mining plays in fueling a decades-long internal conflict.
Colombia became the latest emerging market to end a series of interest rate cuts, joining peers from Brazil to South Africa as it recovers from the pandemic. After the decision, the central bank said that Governor Juan Jose Echavarria will retire early next year.
The Central Bank of Colombia Friday surprisingly decided to lower the interest rate by 25 basis points to 7.50 percent to support the recovery of the economy and to push inflation towards the target set for the coming semester.
A good one and a bad one for Brazil: The New York Times announced on Sunday that it will launch an online edition Portuguese language edition in 2013 given the country’s growing global clout, but on the other hand Brazil’s nine nation constituency at the IMF will lose a member, Colombia that will join Mexico.