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Capital Economics reports that Colombia's current account deficit narrowed sharply last year to its lowest level since the aftermath of the Global Financial Crisis. The narrowing reflected weak domestic demand rather than a structural improvement, and the analysts expect the external deficit to widen again as the economy recovers.
A widening external deficit as domestic demand recovers would increase demand for dollars and put downside pressure on the peso, which raises the cost of dollar-priced feed imports for Colombian buyers.
capitaleconomics.comWilliam JacksonMar 4, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
