Colombia - Economic memorandum (Vol. 1 of 2) : Main report

Report No. 1190-CO Economic Memorandum on Colombia (In Two Volumes) Volume 1: Main Report July 29, 1976 Latin America and Caribbean Regional Office FOR OFFICIAI USE ONLY N ~~~~FILE COPY Document of the World Bank This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  CURRENCY EQUIVALENTS Currency Unit: Peso Exchange Rate Effective July 6, 1976 Selling Rate - US$1.00 = COL$34.79 COL$1.00 = US$.0287 Buying Rate - US$1.00 = COL$3h.71 Average Exchange Rate (Buying) 1972 1973 1974 1975 US$1.00 COL$21.90 COL$23.70 COL$26.08 CoL$3o.95 COL$1.o0 = us$.o456 US$.0422 US$.0383 US$.0323  FOR OFFICIAL USE ONLY This report is based on the findings of a mission to Colombia in March 1976, composed of: Fred Jaspersen (Chief of Mission) Manmohan Agarwal (General Economist) Michael Conroy (Urban Economist, Consultant) Constance Bernard (Research Assistant) Dolores Velasco (Statistical Assistant) This report was discussed with the Colombian authorities by a mission headed by Barend de Vries, Chief Economist, Latin America and Caribbean, in July 1976 and the comments made by the Government at that time have been incorpo- rated herein. Special reports on migration and employment are being issued separately. This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.   ECONOMIC POSITION AND PROSPECTS OF COLOMBIA TABLE OF CONTENTS VOLUME I - THE MAIN REPORT Page No. MAP COUNTRY DATA SUMMARY AND CONCLUSIONS ......................... i-vi I. IMPACT OF THE CHANGING WORLD ECONOMIC ENVIRONMENT ON DEVELOPMENT OF THE COLOMBIAN ECONOMY 1........ II. ADJUSTMENT TO INFLATION AND WORLD RECESSION ...... 11 III. THE OUTLOOK FOR 1976 ............................. 20 IV. LONG TERM PROSPECTS .............................. 23 ANNEX - THE URBAN SECTOR IN COLOMBIA VOLUME II - STATISTICAL APPENDIX   7'8o 76- JULY 1760, colX -1