Colombian President
Calls For Measures To
Avoid Recession
BOGOTA - Colombian
President Alvaro Uribe
requested on Thursday
the congress and central
bank to take measures to
boost the national
economy and avoid a
recession caused by the
world financial crisis.
"We are taking the risk
of turning the world
economic deceleration
into a recession; and it
would affect the
employment," Uribe said.
Uribe made the request
after announcing the
lifting of restrictions
to foreign capitals
interested in investing
in Colombia, aiming at
keeping people's
confidence and
attracting external
capitals.
Uribe said that it is
necessary to reassure
Colombians that the
country's economic
sectors will make
efforts to protect their
economic life from
direct impact of the
current world financial
turmoil.
Efforts by the
government will enable
the Colombian people to
see "initiatives" and
"logic measures," and
this would enhance
people's trust in the
government, Uribe said.
Colombian Value Bourse
was one of the less
affected in Latin
America, with a loss of
3.22 percent and a 3.5
percent price drop of
the State-owned
Ecopetrol shares.
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