February 4, 2013 / 4:10 PM / in 5 years

IMF says Colombia on track for solid growth in 2013

WASHINGTON, Feb 4 (Reuters) - Colombian growth will edge up slightly to 4.4 percent in 2013 with inflation remaining within the central bank’s official target range, the International Monetary Fund said on Monday, but the country remains vulnerable to external shocks.

IMF staff, in a regular assessment of the country’s economic health, also said the Colombia peso appeared overvalued on a real exchange rate basis by between 1.0 percent and 8.0 percent, but cautioned that strengthening could reflect improvements in economic fundamentals.

“Colombia appears well positioned to address the important medium-term challenges facing the country,” the IMF board said in a statement.

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