Colombia's Q2 GDP at 6.87%

Sep 21, 2007 - Colombia's economy grew nearly 7 percent in the second quarter of this year, aided by strong foreign investment and the financial, communications and transport sectors, the government said on Friday.

The Andean country's gross domestic product expanded 6.87 percent with illicit crops during the three-month period and 6.97 percent not including those figures, the DANE government statistics agency said in a statement.

The economy grew 8.11 percent in the first quarter of this year and 5.79 percent in the second quarter of last year.

"Domestic demand, which was worrying the central bank, has moderated, and that gives more arguments for the bank not to raise its interest rates today. The investment side is very strong," Bank of Bogota analyst Lorena Lizarazo said.

The central bank is due to decide on key interest rate policy later on Friday. Analysts expect the bank to keep the rate steady at 9.25 percent, according to a Reuters poll earlier this week.

Colombia is the world's top producer of cocaine, most of which is shipped to the United States and Europe. The government receives millions of dollars each year to help fight armed groups and eradicate coca used to manufacture cocaine.

Foreign investment is flowing into the country drawn by the improved security situation under President Alvaro Uribe. Aided by U.S. funds, Uribe has cracked down on leftist rebels fighting Latin America's oldest guerrilla insurgency.

Colombia says June imports up 20 pct vs yr ago

Aug 17, 2007 - Colombian imports rose 20 percent in June to $2.66 billion compared with the same month last year, the government's statistics agency said on Friday.

Imports for the first six months of the year were up 27.1 percent to $15.3 billion versus the same 2006 period.

Colombia is enjoying strong economic growth driven by foreign investment and domestic demand as President Alvaro Uribe's U.S.-backed security crackdown reduces violence from its guerrilla conflict and draws investors.

Colombia central govt deficit 2.2 pct GDP in Jan-April

Aug 10, 2007 - Colombia's central government deficit for January to April was $3.84 billion or 2.2 percent of the gross domestic product, the Finance Ministry said on Friday without providing any comparison to a year earlier.

The central government deficit accounts only for government ministries. This year's first quarter deficit was $2.97 billion, according to ministry figures.