Although growth rates of a forecast 6% this year look like slowing down over the next few years as interest rate hikes bite and the US economy faces a difficult period, most investors expect Colombia to reach investment grade by early 2009.
For a country that was wracked by violence and a difficult business atmosphere only six years ago, this represents a metamorphosis. The normality of it all was evident only a couple of months ago at the Union Club, located in one of Medellín’s glossy new shopping and business centres, where the annual meeting of the Medellín chapter of ANDI, the Colombian business association, was taking place.
