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Jaime E Trujillo Caicedo, Partner and Chair of Latin America Mergers and Acquisitions Practice Group, Baker McKenzie Colombia: Viewpoint
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Viewpoint:Jaime E Trujillo Caicedo Looking ahead, it is difficult to imagine more interesting times for Colombia from a political, economic and business perspective. The country has come a long way in establishing itself as a credible, fast-growing and resilient economy, which is now producing companies capable of competing on a regional and global level. Security is improving by the day, a…
Analysis

An expanding middle class in Colombia drives demand and consumption

Posted OBG AdminPosted in Uncategorized

Rapid economic growth in the decade leading up to 2012 saw Latin America’s middle class double in size, as more households moved out of poverty. Colombia was one of the continent’s fastest-growing economies during this period. The emergence of the region’s middle class has signalled important social progress and new investment opportunities. Consumption patterns have changed to accommodate…
Analysis

Mobile and online banking improve financial inclusion in Colombia

Posted OBG AdminPosted in Uncategorized

As in many emerging markets, deepening the banking system and boosting financial inclusion have presented challenges for the Colombian banking sector. Rapid improvements in – and the dissemination of – internet and mobile phone technology in recent years have led to increased take-up of mobile banking services. Policymakers see this channel as an important mechanism to increase the share…
Analysis

Colombian peace deal to significantly benefit the national economy

Posted OBG AdminPosted in Uncategorized

After five decades of civil conflict between the state, FARC, the National Liberation Army (Ejército de Liberación Nacional, ELN) and other paramilitary groups, Colombia’s painstaking peace process achieved a breakthrough in 2016. Negotiations between government and FARC guerrilla representatives had been under way in Havana, Cuba, since September 2012. PEACE AGREEMENT: On August 24, 2016…
Analysis

Colombia improves economic operating enviornment, helping small businesses to grow

Posted OBG AdminPosted in Uncategorized

Small businesses are the backbone of Colombia’s economy, but the recent economic slowdown has hit them particularly hard. As in many other countries, micro-, small and medium-sized enterprises (MSMEs) face a range of challenges that are far less binding for larger firms that benefit from economies of scale. According to Claudia Patricia da Cunha Tcachman, manager of dynamic ecosystems at Bancóldex,…

Analysis

Corporate bonds

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Colombia’s corporate bond segment is an important component of the country’s capital market, despite its relatively small size and liquidity. The total amount outstanding at the end of 2016 was COP48.1tn ($14.4bn), or an estimated 5.5% of GDP. All corporate bond trading is registered on the Colombian Stock Exchange (Bolsa de Valores de Colombia, BVC). The average monthly traded volume…

Analysis

Foreign exchange

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Colombia has a floating exchange regime, which allows the currency to work as a shock absorber under local and global economic events. Transactions in the foreign exchange market are done through the Exchange Market Intermediaries (Intermediarios del Mercado Cambiario, IMC) and are registered in the SET-FX electronic trading platform. The Colombian peso spot can be traded same day on weekdays…

Analysis

Public debt

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The Colombian government debt segment is the largest in the country in terms of traded volume, and one of the largest and most liquid of its kind in Latin America – with a total amount outstanding of COP230trn ($69bn), or 26.3% of GDP, and an average monthly traded volume of COP100trn ($30bn) in 2016. Colombian government bonds, widely known as TES, are issued by the Ministry of Finance to…
Analysis

The bourse in Colombia works to diversify the derivatives market

Posted OBG AdminPosted in Uncategorized

Derivatives are financial instruments that are derived from an underlying asset, such as a stock, an exchange index, bonds, currency, interest rates and raw materials, among other things. There are two categories of derivatives: standardised, which are traded through a stock exchange such as the Colombia Stock Exchange (Bolsa de Valores de Colombia, BVC); and non-standardised, which are tailor-made…

Analysis

Equity market

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The Colombian Stock Exchange (Bolsa de Valores de Colombia, BVC) was created in 2001 by merging the three independent stock exchanges that had been operating simultaneously since 1983. Market capitalisation increased consistently after its creation – helped by several state-owned companies going public – before reaching an all-time high of 70.9% of GDP in 2012; the steep drop in oil prices…