Colombia cools expectations on economic growth

Colombia's finance minister, Juan Carlos Echeverry, said that the country would grow more slowly than expected in 2012 at 4.5 percent versus 4.8 percent previously, hit by falling growth in agriculture and industry.

Latin America's fourth economy expanded 5.9 percent last year but growth in 2012 is expected to take a hit from the global economic slowdown, a year-long series of rate hikes in Colombia, and poor performance in the second quarter.

"We can't be complacent. We need measures that help the economy in precisely the next six or 12 months. Sectors where such measures must be more effective are agriculture and industry. I see the other sectors growing well," Echeverry said.
 

Source: Reuters