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AmericasJuly 2 2019

Why orange is the new black for Colombian banks

Forget staying in the black, Colombian banks are looking to the president's orange economy to help boost their fortunes. Lucien Chauvin reports from Bogotá.
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Economists increasingly talk about the green (sustainable) economy and some also envision a blue (ocean) economy, but a much different colour – orange – is the rage in Colombia and could provide a new boon for banks.

Colombian president Iván Duque sees the 'orange economy', coupled with a renewed focus on infrastructure, propelling forward South America’s fourth largest economy. In broad terms, the approach involves cultural creation that runs the gamut from architecture to tourism. Tourism, envisioned as eventually replacing oil as the country’s biggest income earner, is already rising to prominence, with 4.2 million visitors to Colombia in 2018 and 1.2 million in the first quarter of 2019.

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