A manager at Barclays Capital in an interview with financial publication Portafolio Thursday has stated that Colombia is well prepared to deal with the repercussions of the financial crisis in Europe.
Alejandro Grisanti, head of economic investigations for Latin America and the Caribbean, also said that Colombia has good ambassadors who are selling the country abroad, which is leading to more and more foreign investors inquiring about Colombia.
He elaborated that Colombia has distanced itself from the problem of the financial crisis, and is one of the most shielded Latin American countries.
Furthermore, European banks with a presence in Colombia are mostly Spanish which operate independently.
Grisanti added that Colombia has not been badly affected by a drop in European demand for its products because only 12% of exports are destined for Europe.
Grisanti said, “I think that Colombia has become more beautiful to foreigners, also thanks to its good sellers.” He made special mention of President Juan Manuel Santos and Finance Minister Juan Carlos Echeverry for their work in marketing the country.
The Investigations Chief also noted that Peru and Chile are other Latin American countries with strong economies.