Colombia Today |
Colombia Today
It is an exciting time for Colombia. The economy has been doing very well, and more importantly, crime has been significantly reduced. To bring you up to speed on Colombian Today, here are some links and articles for you to read. 15 Hostages Rescued in Colombia Other useful information is provided below:
The Uribe AdministrationExcerpt from the US State Department: The Uribe Administration The Uribe Administration U.S. support for Colombia continues to evolve under the Uribe administration. Recognizing that terrorism and the illicit narcotics trade in Colombia are inextricably linked, the U.S. Congress granted new expanded statutory authorities in 2002 making U.S. assistance to Colombia more flexible in order to better support President Uribe's unified campaign against narcotics and terrorism. Close cooperation continues with passage by the United States of legislation providing about $400 million in additional funding for these programs. Moreover, since the end of the FARC safe haven, the United States has responded to the Colombian Government's request for increased intelligence support, expedited delivery of spare part paid for by Colombia, and support for counter-narcotics operations in the former demilitarized zone. U.S. policy toward Colombia supports the Colombian Government's efforts to strengthen its democratic institutions, promote respect for human rights and the rule of law, intensify counter-narcotics efforts, foster socioeconomic development, address immediate humanitarian needs, and end the threats to democracy posed by narcotics trafficking and terrorism. Promoting security, stability, and prosperity in Colombia will continue as long-term American interests in the region. Source: www.state.gov President: Alvaro UribeExcerpt From BBC News: President: Alvaro Uribe Described as a hard-line and right-leaning politician, Mr. Uribe has pursued a tough line against left-wing guerrillas and right-wing paramilitaries alike. Although this has won him high approval ratings, guerrilla attacks on civilians have continued. The challenges facing Mr. Uribe were starkly illustrated moments before his swearing-in, when deadly explosions rocked the area around the parliament. Mr. Uribe has boosted spending on the military and police and has set about arming peasants in vulnerable areas of the country. Major offensives have been launched against the guerrillas. Anti-terrorism laws have expanded the military's power to make arrests and detain suspects. In June 2003 Mr Uribe unveiled a long-awaited security plan, intended to end the war and the drugs trade which fuels it. The plan aimed to establish a police presence in all parts of the country, and to eradicate all drugs crops. Mr Uribe has called for a cease fire and a commitment by the rebels to give up terrorism before entering negotiations. He is keen on seeking international mediation to end the violence and has courted US military and financial assistance. Born in Medellin in July 1952, Alvaro Uribe is a Harvard and Oxford University-educated lawyer. He is described as a workaholic and a disciplined scholar. He was elected mayor of Medellin in 1982 and was Antioquia governor between 1995 and 1997. Mr. Uribe is a staunch Roman Catholic and is interested in horses and yoga. He is married with two children. His father, a wealthy landowner, was killed when FARC rebels tried to kidnap him. But Mr. Uribe - who has survived a handful of assassination attempts - says his anger does not influence his policies. Source: www.news.bbc.co.uk URIBE RE-ELECTEDIn May, Colombian voters re-elected President Uribe to a second term in a landslide. The sense that the country has improved security and put its fiscal house in order has resulted in a doubling of investment here since 2002 by foreigners and Colombians when figured as a percentage of total economic output, said finance minister Alberto Carrasquilla in an interview in December. ''Confidence reflects better expectations for the future and has had an effect on the pricing of all Colombian assets, from land and houses to bonds and the currency,'' he said. Also priced higher are Colombian stocks, which after rising 119 percent in 2005 posted a 17 percent gain in 2006. Other Latin American stock markets, likewise fueled by high commodities prices, grew even more: 49 percent in, 33 percent in , 37 percent in and an eye-popping 168 percent in. Signs of confidence abound. Drummond Corp. of Birmingham, Ala., and Swiss company Glencore are plowing hundreds of millions of dollars into northern mines to double their coal production capacity. From no investment in 1999, foreign energy companies committed $1.5 billion to explore for crude oil and natural gas in 2006, said Armando Zamora, general director of the National Hydrocarbons Agency, a government office charged with energy development. To reverse declining production, enticed 30 foreign energy companies to explore in the country by offering what consultant Wehur D. Little has called the most attractive terms of any Latin American government. Construction grew 18 percent last year from 2005, and industrial output and retail sales each rose 13 percent, Carrasquilla said. Another factor adding to investor confidence is that , one of the slowest among the hemisphere's countries to open its doors to free trade and outside investment, has signed agreements to reduce barriers and encourage business with the , and five Central American nations. All of the pacts await approval by Congress. Colombia – An Economic Success StoryInternational Confidence soars in Colombia BOGOTA - To say 2006 was a good year for the Colombian economy is to describe native pop phenomenon Shakira as a reasonably successful singer. With exports, confidence and investment soaring, economic output here could finish 2006 having grown 6.3 percent from 2005, a full point above the robust expansion projected for all of Latin America. Like most other Latin American economies that just ended a banner year, was boosted by the boom in commodities. Exports of its coal, highly coveted by utilities because of its low sulfur content, have doubled in three years, bringing in close to $3 billion in foreign exchange. Colombian oil revenue of about $6 billion is up 80 percent from 2004, thanks to global energy demand. And coffee growers are enjoying a tripling of bean prices since 2002, a result of worldwide consumption growth and severe weather that cut harvests last year in and. Strong Forecast Just as crucial to the surge in is the increased confidence that foreign and domestic investors have in its finances -- and its ability to weather the inevitable downturn in the market for those raw materials. Colombia, like several other countries in the hemisphere, has used the windfall in foreign exchange generated from commodity sales to reduce its foreign debt and its fiscal deficit, said Lisa Schineller, a Standard & Poor's analyst in New York who specializes in Latin American bonds. S&P recently gave Colombian bonds a positive outlook, meaning they might soon be upgraded. The nation of about 45 million inhabitants is also revamping its tax system to reduce the red ink further. It will impose a $4-billion wealth tax on its 6,000 richest citizens and biggest companies starting this year to finance the continuing war against leftist rebel groups. Although that decades-long conflict is far from won, President Alvaro Uribe could claim significant progress after demobilizing some 31,000 right-wing paramilitary troops and by improving security on the highways and in most cities, where the bulk of business is conducted. |
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