Will Headwinds Stall Growth of Colombian Banks?

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Marcelo Buendía Vélez, associate attorney in the Bogotá office of Diaz, Reus & Targ: “As Gutiérrez said recently, Colombia is technically not in an economic recession. However, indicators could show economic stagnation. For example, GDP growth stagnated in the first quarter of this year. Additionally, according to the National Association of Industrialists (ANDI), there is a stagnation in final consumption by both the private sector and the government. This stagnation has direct consequences for the financial sector.