Report of the Board of Directors to the Congress of Colombia - July 2020

Simple item page
dc.audienceResearcherseng
dc.audienceStudentseng
dc.audienceTeacherseng
dc.audiencePolicymakerseng
dc.coverage.sucursalBogotáspa
dc.creatorBoard of Directors
dc.creatorCarrasquilla-Barrera, Alberto
dc.creatorBoard Members
dc.creatorGalindo-Andrade, Arturo José
dc.creatorHernández-Correa, Gerardo
dc.creatorMaiguashca-Olano, Ana Fernanda
dc.creatorSoto-Losada, Carolina
dc.creatorSteiner-Sampedro, Roberto
dc.creatorGovernor
dc.creatorEchavarría, Juan José
dc.date.accessioned2021-02-12T20:53:30Zspa
dc.date.available2021-02-12T20:53:30Zspa
dc.date.created2021-02-12spa
dc.description.abstractIn Colombia, as well as in the rest of the world, the Covid-19 pandemic has seriously damaged the health and well-being of the people. In order to limit the damage, local and national authorities have had to order large sectors of the population to be confined at their homes for long periods of time. An inevitable consequence of isolation has been the collapse of economic activity, expenditure, and employment, a phenomenon that has hit many countries of the world affected by the disease. It is an unprecedented crisis in modern times, not so much for its intensity (which is undoubtedly immense), but because its origin is not economic. That is what makes it so unpredictable and difficult to manage. Naturally, its economic consequences are enormous. Governments and central banks from all over the world are struggling to mitigate them, but the final solution is not in the hands of the economic authorities. Only science can provide a way out. In the meantime, the economic indicators in Colombia and in the rest of the world cause concern. The output falls, the massive loss of jobs, and the closure of businesses of all sizes have become daily news. Added to this, there is the deterioration in global financial conditions and the increase in the risk indicators. Financial volatility has increased and stock indexes have fallen. In the face of the lower global demand, export prices of raw materials have fallen, affecting the terms of trade for producing countries. Workers’ remittances have declined due to the increase of unemployment in developed countries. This crisis has also generated a strong reduction of global trade of goods and services, and effects on the global value chains. Central banks around the world have reacted decisively and quickly with strong liquidity injections and significant cuts to their interest rates. By mid-July, such determined response had succeeded to revert much of the initial deterioration in global financial conditions. The stock exchanges stopped their fall, and showed significant recovery in several countries. Risk premia, which at the beginning of the crisis took an unusual leap, recorded substantial corrections. Something similar happened with the volatility indexes of global financial markets, which exhibited significant improvement. Flexibilization of confinement measures in some economies, broad global liquidity, and fiscal policy measures have also contributed to improve global external financial conditions, albeit with indicators that still do not return to their pre-Covid levels.eng
dc.format.extent76 páginas : gráficas, tablasspa
dc.format.mimetypePDFspa
dc.identifier.handlehttps://hdl.handle.net/20.500.12134/9978spa
dc.identifier.urihttps://repositorio.banrep.gov.co/handle/20.500.12134/9978spa
dc.language.isoengeng
dc.publisherBanco de la República de Colombiaspa
dc.relation.doihttps://doi.org/10.32468/inf-jun-dir-con-rep-eng.07-2020spa
dc.relation.ispartofReportes, Boletines e Informesspa
dc.relation.ispartofseriesReport of the Board of Directors to the Congress of the Republiceng
dc.relation.issn2145-6801spa
dc.relation.isversionofReport of the Board of Directors to the Congress of the Republic - July of 2020eng
dc.relation.numberIJDCR July 2020eng
dc.relation.shortdoihttps://doi.org/fvgdspa
dc.rights.accessRightsOpen Accesseng
dc.rights.ccAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0spa
dc.rights.spaAcceso abiertospa
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/eng
dc.subjectInflaciónspa
dc.subjectMercado laboralspa
dc.subjectTasas de interésspa
dc.subjectPolítica monetariaspa
dc.subjectColombiaspa
dc.subject.jelE50 - Monetary Policy, Central Banking, and the Supply of Money and Credit: Generaleng
dc.subject.jelE60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: Generaleng
dc.subject.jelE65 - Studies of Particular Policy Episodeseng
dc.subject.jelspaE50 - Política monetaria, bancos centrales, oferta de dinero y crédito: Generalidadesspa
dc.subject.jelspaE60 - Política macroeconómica, aspectos macroeconómicos de las finanzas públicas y perspectivas generales: Generalidadesspa
dc.subject.jelspaE65 - Estudios de episodios concretos de política económicaspa
dc.subject.keywordInflationeng
dc.subject.keywordLabor marketeng
dc.subject.keywordInterest rateseng
dc.subject.keywordMonetary policyeng
dc.subject.keywordColombiaeng
dc.subject.lembBanco de la República (Bogotá). Junta Directiva -- 2020 -- Informesspa
dc.subject.lembMacreoeconomía -- Colombia -- 2020 -- Informesspa
dc.subject.lembDesarrollo económico -- Colombia -- 2020 -- Informesspa
dc.subject.lembReservas internacionales -- Colombia -- 2020 -- Informesspa
dc.titleReport of the Board of Directors to the Congress of Colombia - July 2020eng
dc.typeReporteng
dc.type.hasversionPublished Versioneng
dc.type.spaInformespa
local.descargahttps://doi.org/10.32468/inf-jun-dir-con-rep-eng.07-2020eng

Files

Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
congress-july-2020.pdf
Size:
1.83 MB
Format:
Adobe Portable Document Format
FILE
https://repositorio.banrep.gov.co/bitstream/handle/20.500.12134/9978/congress-july-2020.pdf
Description:
Report to the Congress of Colombia - July 2020
Download
Thumbnail Image
Name:
introduction-congreso-july-2020.pdf
Size:
63.89 KB
Format:
Adobe Portable Document Format
FILE
https://repositorio.banrep.gov.co/bitstream/handle/20.500.12134/9978/introduction-congreso-july-2020.pdf
Description:
Introduction
Download
License bundle
Now showing 1 - 1 of 1
Name:
license.txt
Size:
4.92 KB
Format:
Item-specific license agreed upon to submission
Description:
Download

Collections

Informe de la Junta Directiva al Congreso de la República