Program of Accumulation of Reserves

The Board of Directors of Banco de la República decided to end the program of accumulation of reserves announced in September 2018. It considers that the current level of international reserves and the expected result of the renegotiation of the Flexible Credit Line with the IMF will cover the country's potential external liquidity needs sufficiently.

The Board regularly assesses the performance of the foreign exchange market in the country's macroeconomic and financial context in order to make its decisions regarding sterilized foreign exchange market interventions.

Bogotá, 31 October 2019.