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Economic Survey of Latin America 1957

image of Economic Survey of Latin America 1957

Published since 1948, this report examines various aspects of the previous year’s macroeconomic situation in the region and makes projections for the coming months. The study also includes country notes that review the performance of the main economic indicators in the period analysed.

English

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Colombia

Colombia has perhaps the best-balanced economic resources in Latin America. It has plenty of arable land; climatic conditions which make possible the production of a wide variety of crops, ranging from tropical products like coffee, bananas and sugar to others, such as wheat and cotton, that require a temperate habitat; proven resources of gold, petroleum, coal and iron, the last two lying close together; and developed manufacturing centres, with experienced management and labour. Yet its economic problems have been growing steadily more acute in recent years, and they reached a crisis in 1957, when Colombia was forced to seek arrangements under which it could postpone paying trade debts, while its imports were cut and it reduced investment and Government spending. The year 1957 was also one of rapidly rising prices.

English

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