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The indebtedness of different agents remains below that of peers. The composition of external debt has been shifting among the borrowers since 2018. There is the increasing trend led by public, compared to the ongoing decline in the private sector.
In the third quarter, the current account deficit continued to close rapidly at 1.7% of GDP and continued to reflect the slowdown in the economy's domestic demand.
The current account deficit reached USD 2,525 million in the second quarter and represented 3% of GDP, decreasing by 49% with respect to the value recorded in the second quarter of 2022. The deficit reduction was driven by the adjustment in the…
The current account deficit stood at 4.2% of GDP in Q1 2023 (USD 3,421 million), decreasing from 6.2% in Q1 2022 (USD 5,351Million) and down from 6.1% recorded in the previous quarter.
Current account deficit for 2022 reached $21.446 billion and represented 6.2% of GDP, significantly above historical averages.
Associated with the change in fundamental saving and investment variables that the Colombian economy has undergone in the recent decade, the structural current account and exchange rate are estimated in light of these changes. Likewise, forecasts are made for these variables up to December 2023.
In a scenario of soft economic growth with gradual correction of the fiscal deficit such as the one currently underway and with FDI growing to levels similar to those of countries in the region, the external deficit could be financed in the medium term without external debt overflowing and avoiding one of the cyclical exter…
