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31.01.25 - 04:18
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Cocaine Outpaces Oil As Colombia′s Most Valuable Export (ZeroHedge)
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Cocaine Outpaces Oil As Colombia's Most Valuable Export
Authored by Matthew Smith via Oilprice.com,
Colombia's cocaine production reached a record high in 2023, despite government efforts to combat the illicit industry.
The booming cocaine trade is driving insecurity, corruption, and violence, damaging key economic sectors like the oil industry.
The cultivation of coca and production of cocaine has been fueled by a complex interplay of factors, including demand, profitability, and the involvement of illegal armed groups.
In a shocking development, Colombia's cocaine production, for the 10th year straight, soared to a new record high. The UN Office on Drugs and Crime (UNODC) estimates that the year's annual output grew 52% year over year to a startling 2,664 metric tons, the largest amount ever produced. Despite the government in the capital Bogota, with U.S. backing, committing substantial resources to disrupt what is now an economically crucial illicit industry in rural C...
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20.12.24 - 20:01
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Colombia′s central bank board makes surprise 25 bp cut at last 2024 meeting (Reuters EN)
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UPDATE 1-Colombia's central bank board makes surprise 25 bp cut at last 2024 meeting Recasts throughout to update with rate decision By Nelson Bocanegra and Carlos Vargas BOGOTA, Dec 20 (Reuters) - The board of Colombia's central bank on Friday voted to cut its benchmark interest rate by a surprise 25 basis points to 9.50%, less than expected by the market, citing global financial pressures and the work of other central banks to raise their own interest rates....
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