Announcement of Meeting of the Consultative Group for Colombia on February 17, 1971

,, INTERNATIONAL BANt< FOR · -RECONSTRUCTION AND DEVELOPMENT \' 1818 H STREET, N.W., WASHINGTON· D. C. 20433 TELEPHONE: EjlECUTIVE __;) 3-6360 February 17, 19 71 Subject: Meeting of the Con1:tµlt~tive Group for Colombia · A meeting of the Consultative Group for Colombia was held in Paris on February 16 and 17, 1971 under the chairmanship of the World Bank. This \ has been tha fifth such meeting of countries and international organizations for the coordination of development assistance to Colombia. The .meeting w.as ,:::_ attended by representatives of the Governments of .·"'- "':::::. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Spain, • the United Kingdom and the United States. Representatives of the Government of Colombia, the International Monetary Fund, the United Nations Development Programme, the Inter-Aaarican Development Bank and the Inter-American Committee of the Alliance for Progress were also present. The International Coffee Organization, OECD/DAC and Switzerland were represented by observers. -The Group discussed a report on the current economic situation and future prospects prepared by the World Bank and considered Colombia's needs for external financing in the next two years. In his address to the meeting, the Head of the Colombian Delegation, Dr. Alfonso Patino Roselli, Minister of Finance, summarized the progress achieved since the fourth ,~eting of the Group in January 1969, describing the objectives of his Government with respect to economic growth, employment and social welfare and measures taken Z,J or to be taken to meet these objectives • •• /more  •• I Consultative· Group for Co1<'1,'1>i~ The Minister explai~~d in particular Colombian development policies , '";, ,,, L • in the fields of fiscal reform, ag~':iculture, industr:;r and the bal~;nce of payments management, and the steps taken to expand non-coffee exports. He stre~sed the extent to which SJ1-_cce~s=tn- meeting" these objectives would depend not on the Colombian Government alone, but also on the continued fiilancial support of the members of the Group. The Group expre.,sed appreciation of the presentation made by Minister / Patino Roselli and other members of the .:'Colombfan Delegation arid agreed that ~olombia's. recent economic ~erforman,ce 'and.development prospects, assuming impleLtentation of the program outlined by the Colombian Delegations justified continued assistance ftom members of the Group. The meeting was conducted under the chairmanship of Mr. Gerald Alter on behalf of the International Bank for Reconstruction and Development. • - 0 - •