Colombia Republic of Colombia Republica de Colombia Capital- Bogota Area- total:1,138,910 sq km land:1,038,700 sq km

People Population: 44,379,598 Population: 44,379,598 Population growth rate: 1.433% Population growth rate: 1.433% Net migration rate: migrant(s)/1,000 population Net migration rate: migrant(s)/1,000 population Life Expectancy: total population: years male: years female: years Life Expectancy: total population: years male: years female: years Ethnic Groups: mestizo 58%, white 20%, mulatto 14%, black 4%, mixed black-Amerindian 3%, Amerindian 1% Ethnic Groups: mestizo 58%, white 20%, mulatto 14%, black 4%, mixed black-Amerindian 3%, Amerindian 1% Religions: Roman Catholic 90%, other 10% Religions: Roman Catholic 90%, other 10%

Economy GDP- $105.5 billion (official exchange rate) GDP- $105.5 billion (official exchange rate) $366.7 billion (purchasing power parity) $366.7 billion (purchasing power parity) GDP per Capital- $8,400 GDP per Capital- $8,400 GDP Growth Rate (real)- 5.4% GDP Growth Rate (real)- 5.4% GDP by sector GDP by sector agriculture: 12% industry: 35.2% services: 52.7% Inflation rate (CPI)- 4.3% Inflation rate (CPI)- 4.3% Unemployment rate- 11.1% Unemployment rate- 11.1% Public debt- 45.3% of GDP Public debt- 45.3% of GDP Current Account Balance: - $2.219 billion Current Account Balance: - $2.219 billion

Government Government type- republic President- Alvaro URIBE Velez (since 7 August 2002) Revenues: $50.7 billion Expenditures: $52.29 billion Balance: -$1.59 Billion Government expenditures (2005): 22.7% of GDP

Foreign relations Member of the Andean Community. Associate member of Mercosor Contadora Group, the Group of Eight (now the Rio Group) and the Non-Aligned Movement. Has signed free trade agreements with Chile, Mexico and Venezuela. Colombia has traditionally played an active role in the United Nations and the Organization of American States and in their subsidiary agencies. Future Efforts The merging of Andean Community and Mercosur into the Union of South American Nations

Fiscal Policy Colombia has sought to decentralize the government and in doing so allowing the states to gain more power to govern. This has brought the national government in massive debt as it was forced to assume the loans taken out by the states. year Billons of Colombian Pesos , , , , ,995.6

Monetary Policy Exchange Rates Inflation target of between 3.0% and 4.5% for 2007 Inflation target of between 3.0% and 4.5% for 2007 With a long term goal of between 2 and 4% With a long term goal of between 2 and 4% Banco de la Republica was established July 23, 1923 Banco de la Republica was established July 23, 1923 The bank is separate from the government but still reports to the congress The bank is separate from the government but still reports to the congress Managed flexible exchange rate Managed flexible exchange rate Goal of the management: maintain an adequate level of international reserves that will lessen the economy’s vulnerability to external shocks To limit excessive volatility of the exchange rate in the short term To moderate excessive appreciation or depreciation of the nominal exchange rate that could jeopardize the achievement of future inflation targets, as well as the economy’s external and financial stability. Goal of the management: maintain an adequate level of international reserves that will lessen the economy’s vulnerability to external shocks To limit excessive volatility of the exchange rate in the short term To moderate excessive appreciation or depreciation of the nominal exchange rate that could jeopardize the achievement of future inflation targets, as well as the economy’s external and financial stability.

Social Policies Option of either a social or private insurance coverage. Old-age pension for workers who have 1,000 weeks of contributions Also an injured and disabled pension system. Cases of human rights violations in areas of conflict between the government and terrorists groups.

Drugs world's leading coca cultivator with 144,000 hectares in coca cultivation in 2005, producing a potential of 545mt of pure cocaine 2,100 hectares yielding a potential 3.8 metric tons of pure heroin, mostly for the US market The activities of the government and drug growers has forced 300,000 people out of Colombia and into neighboring countries as refugees. drug-related crime, which has become the most common cause of death after cancer

References Banco de la Republica Colombia. (2007). Colombia. Retrieved May/23, 2007, from Banco de la Republica Colombia. (2007). Colombia. Retrieved May/23, 2007, from CIA- The World Factbook. (2007). Colombia. Retrieved May/23, 2007, from CIA- The World Factbook. (2007). Colombia. Retrieved May/23, 2007, from Colombia Journal Online. (2006). Colombia could learn from venezuela's social policies. Retrieved May/23, 2007, from Colombia Journal Online. (2006). Colombia could learn from venezuela's social policies. Retrieved May/23, 2007, from Encyclopedia Britannica Online. (2007). Colombia. Retrieved May/23, 2007, from Encyclopedia Britannica Online. (2007). Colombia. Retrieved May/23, 2007, from Social Security Online. (2003). Colombia. Retrieved May/23, 2007, from /americas/colombia.html Social Security Online. (2003). Colombia. Retrieved May/23, 2007, from /americas/colombia.html /americas/colombia.html /americas/colombia.html U.S. Department of State. (2007). Colombia. Retrieved May/23, 2007, from U.S. Department of State. (2007). Colombia. Retrieved May/23, 2007, from World Bank. (2002). Colombia- social safety net assessment. Retrieved May/23, 2007, from fef12/279c53f488926cce85256ddc006075f6/$FILE/Colombia%20Safety%20Net%20 Assessment%20Part%201. World Bank. (2002). Colombia- social safety net assessment. Retrieved May/23, 2007, from fef12/279c53f488926cce85256ddc006075f6/$FILE/Colombia%20Safety%20Net%20 Assessment%20Part% fef12/279c53f488926cce85256ddc006075f6/$FILE/Colombia%20Safety%20Net%20 Assessment%20Part% fef12/279c53f488926cce85256ddc006075f6/$FILE/Colombia%20Safety%20Net%20 Assessment%20Part%201.