Colombia in 2003
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Case Code: ECOA106 Case Length: 15 Pages Period: 2003 Pub Date: 2003 Teaching Note: Not Available |
Price: Rs.300 Organization : - Industry : - Countries : Colombia, Latin America Themes: - |
Abstract Case Intro 1 Excerpts
Excerpts
Background Note
Early History
Little is known about the various Indian tribes who inhabited Colombia before the Spanish arrived. In 1510, the Spaniards founded Darien, the first permanent European settlement on the American mainland. In 1538, they established the colony of New Granada, the area's name until 1861...
Recent Developments
In 1998, Colombians elected as their president Andres Pastrana, former mayor of Bogotá and son of Misael Pastrana from a prominent political family. He pledged to clean up corruption. In 1999 the Colombian military reported 2,787 kidnappings, the largest number in the world...
Law & Order
Maintaining law and order had been one of the major challenges in recent times for Colombian governments. Murder often went unpunished in the country. Only around 40% of murders were ever investigated. Only one murder in ten resulted in an arrest. Even then murderers served an average of only four-and-a-half years in jail...
Economic Policies
In the 1960s, Colombia's income distribution was highly unequal, even by Latin American standards. But between 1970 and 1995, the country made good progress in cutting poverty and inequality...
The Industry
Mineral production in Colombia was dominated by the fuel sector. The country was the fourth largest producer of both crude petroleum and coal in Latin America. Petroleum was the backbone of the mineral industry, providing a large portion of Government revenues...
Foreign Trade
In 2001, Colombia's merchandise exports (customs basis) amounted to $12.8 billion and merchandise imports (freight-on-board basis) added up to $12.3 billion. Colombia's natural markets were the Andean countries, Central America and the United States. During the first 11 months of 2002, the value of exports (customs basis) was about $11 billion, roughly 4% lower than in the corresponding period of 2001. The value of imports (cif basis) reached $11.7 billion, implying a 1.6% fall over the year. The current-account deficit was $1.8 billion, or 2.1% of GDP, in 2001...
Future Outlook
Economists felt the key to faster growth for Colombia, lay in a recovery of private investment, which was picking up only slowly after its collapse in 1999. A combination of factors had slowed down investment growth - credit shortage, firms struggling to clean up their balance sheets and heavy borrowing by companies before the crash. Colombia's fiscal deficit had been climbing in recent times...
Exhibits
Exhibit I: Colombia at a Glance
Exhibit II: Colombia: Salient Economic Data
Exhibit III: Comparative Economic Indicators, 2001
Exhibit IV: Colombia: Foreign Trade
Exhibit V: Colombia: Coffee Industry
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