Colombian Finance Minister Mauricio Cardenas says the country's recent 30-year bond issue shows debt markets differentiate between strong and weak Latin American economies.
Columbia. So far straight in the west of the south but it's not how long can stand here and Colombia's finance minister -- chip and asked joins me in this heated. They're very good to have you here and and and timely as well and and you just been missing two missed did -- that I. What prompted dimension and. Columbia. Well. I mean would have to have have made your do you decision of the currency and we don't see that happening. Markets are becoming very discriminating yeah and Dave now understand that there are differences between emerging countries. I'm Colombia is being treated extremely well. I mean I I hear what you're saying and and I know you said -- lost my eyes and in fact. Mexico's finance minister was saying the same having said that. The Mexican places and took off and right yeah. Well but it's about Colombia this very same week when all these problems are you raising Argentina Turkey. Columbia he issued a thirty year bond. That was please at a record low rate 55 point 6% five point 6% for a thirty year bought the largest. Single issue over thirty year bond. For a Latin American sorry. How long you think you can stay at these levels how long you think it'll be performing stock while they're gonna increase that's actually why we decided to. Issues such as much fun because we think it's the right time I mean things are not going to be the same. In a few weeks -- months. You don't worried about technology to. Look exactly now making Colombia the third largest economy in Latin America because they depreciated they're. GDP you know you have daughters. Fail now Colombia's third largest economy an epidemic. Just think what we're seeing in Argentina and and and elsewhere that is this thoughts about at length here routes or is it. -- got to get a lot worse before it gets better. Well let's dissect markets are going to differentiate. Countries that have been right economic strategies like Colombia for example. Are going to be treated very well what's -- right economic strategy well. Often economy and attract foreign investment inflation rate though no fiscal deficits note that while that's that's what the markets wanna see. I don't believe the -- -- instances in doubles or audio from the central. I haven't seen -- have you spoken to them in the Moscow -- is no no we have we aspirins and from what I've spoken to -- -- this -- Who is here. Susan. Well I think they have different views from the views of the government of identity. What -- if you growth projections for Columbia. -- tell us what what lay off how they me. Changed and now this. That sees this this panic if you like these these are in -- while both think of Colombia as an economy that has he period. Fine tuning. Of economy we grow at 5% and we do it almost every year inflation is 2%. If fiscal deficit with a very strict fiscal ruled that -- of deputies 2.3 percent of GDP so it's an economy it is tightly managed. But we want to raise that 5% of GDP growth per year. To seventh or how we're gonna do that. First major infrastructure program that would add one point two growth. And then we're also trying to end the fifty year long conflict. I -- machine with the guerrillas. And that could also boost the economy by another percentage point so he's an economy grows. 5%. Stable. And can actually have he -- -- site. We've infrastructure and east and you can rose 7%. Mister -- thanks to both thank you very much you very much indeed.