Colombia - Economic position and prospects (Vol. 1 of 2) : Main report

Report No. 1548-CO ttL SP Economic Position and Prospects of Colombia (In Two Volumes) Volume 1: Main Report May 10, 1977 Latin America and Caribbean Regional Office FOR OFFICIAL USE ONLY Document of the Would 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 March 11, 1977. Selling Rate - US$1.00 Col$36.46 Col$1.00 US$0.2743 Buying Rate - US$1.00 Col$36.40 Average Exchange Rate (Buying) 1973 1974 1975 1976 US$1.00 = Col$23.70 Col$26.08 Col$30.95 ColS35.05 Col$1.00 = US$.0422 US$.0383 US$.0323 US$.0285  FOR OFFICIAL USE ONLY This report is based on the findings of an economic mission to Colombia in February 1977, composed of: Manmohan Agarwal (Chief of Mission) Hugo Diaz (Social Sectors Analyst) Richard Freeman (Monetary Economist) Melvin Goldman (Public Sector Investment Analyst) Thomas Hutcheson (Industrial Economist) Manuel Penalver (Assistant Industrial Economist) Walter Price (Agricultural Economist) Joerg-Uwe Richter (Minerals Economist) Jayanta Roy (Fiscal Economist) Carol Seppala (Trade Economist) Rangaswamy Vedavalli (Petroleum Economist) R. Vaughn Sear (Power Consultant) K. Wardell (Coal Consultant) Constance Bernard and Dolores Velasco participated in the preparation of the report. I This document has a rmtrictod distributio and my be used by recipients only in the performance of their offiil duties. Its contents may not otherwis be disclsed without World Bank authorization.  ECONOMIC POSITION AND PROSPECTS OF COLOMBIA TABLE OF CONTENTS VOLUME I - THE MAIN REPORT Page No. MAP COUNTRY DATA PREFACE SUMMARY AND CONCLUSIONS .......... .. .............. i - viii I. RECENT ECONOMIC TRENDS: 1967-74 ................. 1 II. INFLATION, REFORM AND STABILIZATION . . 7 III. GLOBAL AND SECTORAL OBJECTIVES AND ECONOMIC ISSUES..... 19 IV. BALANCE OF PAYMENTS AND CREDITWORTHINESS .42 VOLUME II - STATISTICAL APPENDIX  IBRD-3638R I 78' 76 7'4- 7Z'' 70