Colombia

The Colombian economy was beset with difficulties in 1998, as unfavourable external shocks forced authorities to make macroeconomic adjustments in a context of fiscal and external disequilibria. The adjustments, especially those achieved through monetary policy, had an adverse effect on the productive and financial sectors and led to a sharp increase in unemployment. The economic slowdown and the subsequent financial losses were reflected in a modest increase in GDP of 0.6%, one of the lowest in recent decades.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions