Colombian finance minister welcomes weaker peso
SANTIAGO Aug 23 (Reuters) - Colombia isn't worried about its weaker peso currency, and welcomes the recent depreciation, finance minister Mauricio Cardenas said on Friday.
"We are not at all worried about the depreciation of the currency. We are not looking at measures to counteract it," said Cardenas, who is in Chile for a meeting of finance ministers in the Pacific Alliance bloc.
Colombia's monetary authority has been buying dollars on the spot market for months in a bid to weaken the peso and ease problems for sectors like manufacturing, which struggles to compete with cheap imports, and exporters, which face high local costs and low dollar earnings.
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