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.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions