The Board of Directors´ Report to the Congress of Colombia Summary - July 2017
Pursuant to Article 5 of Law 31 of 1992, the Board of Directors of Banco de la República (the Central Bank of Colombia) submits a report to the Honorable Congress of Colombia, informing about the performance of the economy and its outlook. This report is submitted twice a year, in March and July, within ten business days following the start date of the sessions of the Congress.
The Board of Directors of the Central Bank of Colombia, as established in Article 5° of Act 31 of 1992, submitted its second report of the year to the Congress of Colombia. The report analyzes the international economic environment, the performance of the Colombian economy so far in 2017, and the outlook for the rest of the year. In this context, monetary policy decisions taken in the past few months are explained. Also, the report delves into topics of interest such as the behavior of the labor market, inflation, the external balance, and the financial sector. Additionally, the text discusses the management of international reserves and the financial situation of the Central Bank.
