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Colombia claims economy bigger than Argentina's

Monday, September 3, 2012


Colombia’s finance chief, looking to become the International Monetary Fund’s top official in Latin America, boasted that his economy has overtaken Argentina’s as the region’s third-biggest as a result of the Argentine peso’s slide on the unregulated currency market.

Juan Carlos Echeverry, who last week announced he was stepping down from his post, also said in an interview that Colombia may change its representation on the IMF’s executive board, moving from a nine-nation constituency led by Brazil, the region’s biggest economy, to one headed by Mexico.

Colombia’s economy was $15 billion larger than Argentina’s, taking into account the IMF’s gross domestic product data and an exchange rate of 6.37 Argentine pesos per dollar, Echeverry said.


Source: Bloomberg