At this stage it does not look very plausible that the Colombian peso will average 2,240 for the year. I am not convinced the peso will have that much momentum to trade below 2,300 again.
More Quotes from Alberto Ramos:
The companies that decide to stay are expected to be extremely reluctant to make major commitments of capital to the country given the sheer evidence of regulatory uncertainty and state heavy-handedness.Alberto Ramos
The market is getting ready for re-election to go ahead.
Alberto Ramos
The picture for supply and demand means that copper prices will remain high.
Alberto Ramos
The numbers show that the government is opening the faucets when it should save money or spend more moderately. They may not see a consequence in the short term, but in the medium- to long-term, it makes it harder for the country to lower borrowing costs and reduce debt.
Alberto Ramos
The other surprise was that imports came in a little bit too low, 14 percent growth year over year is the lowest year over year growth in the last two years... I think the fall in imports is a little bit atypical. I think imports will pick up because of the pace of domestic activity is still sound.
Alberto Ramos
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