…is not going to enjoy the drop in the oil price.
And that’s putting it mildly. So much talk about Venezuela being screwed by the dump in crude, but nary a word as yet about Colombia even though its coffee exports these days are tiny in comparison to the amount of hydrocarbons it sells to the rest of the world. That’ll change as soon as the forex jocks catch onto the idea that the Colombian Peso’s drop hasn’t even started yet.
Bye-bye region-leading GDP growth. Bye-bye resistant currency. Hello reality.
Data from the Colombia Central Bank commercial balance page, here.