consulate(s) general: Boston, Chicago, Houston, Los Angeles, Miami, New Orleans, New York, San Francisco, San Juan (Puerto Rico), and Washington, DC
consulate(s): Atlanta
Diplomatic representation from the US: chief of mission: Ambassador
Anne W. PATTERSON
embassy: Calle 22D-BIS, numbers 47-51, Apartado Aereo 3831
mailing address: Carrera 45 #22D-45, Bogota, D.C., APO AA 34038
telephone: [57] (1) 315-0811
FAX: [57] (1) 315-2197
Flag description: three horizontal bands of yellow (top, double-width), blue, and red; similar to the flag of Ecuador, which is longer and bears the Ecuadorian coat of arms superimposed in the center
Colombia Economy
Economy - overview: Colombia is poised for muted growth in the next several years, marking continued recovery from the severe 1999 recession when GDP fell by about 4%. President PASTRANA's well-respected economic team is working to keep the economy on track, maintaining low interest rates, for example. In accordance with its IMF loan agreement, the administration also is taking steps to improve the public sector's fiscal health. However, many challenges to improved prosperity remain. Unemployment was stuck at a record 20% in 2000, contributing to the extreme inequality in income distribution. Two of Colombia's leading exports, oil and coffee, face an uncertain future; new exploration is needed to offset declining oil production, while coffee harvests and prices are depressed. The lack of public security is a key concern for investors, making progress in the government's peace negotiations with insurgent groups an important driver of economic performance. Colombia is looking for continued support from the international community to boost economic and peace prospects.