lberto MORENO Mejia
chancery: 2118 Leroy Place NW, Washington, DC 20008
consulate(s) general: Boston, Chicago, Houston, Los Angeles, Miami,
New Orleans, New York, San Francisco, San Juan (Puerto Rico), and
Washington, DC
consulate(s): Atlanta and Tampa

Diplomatic representation from the US:
chief of mission: Ambassador Curtis Warren KAMMAN
embassy: Calle 22D-BIS, numbers 47-51, Apartado Aereo 3831
mailing address: APO AA 34038

Flag description: three horizontal bands of yellow (top,
double-width), blue, and red; similar to the flag of Ecuador, which
is longer and bears the Ecuadorian coat of arms superimposed in the
center

Economy

Economy--overview: Colombia ended 1998 in recession with 0.2% GDP
growth due to a combination of low world oil prices, reduced export
demand, guerrilla violence, and diminished investment flows. The
Central Bank resorted to interest rate hikes and tight monetary
policy to defend the peso against pressure from Colombia's worsening
trade and fiscal deficits. President PASTRANA'S well-respected
financial team is working to deal with the myriad economic problems
the country faces, including the highest unemployment level in
decades and a fiscal deficit of close to 5% of GDP in 1998. The
government implemented austerity measures, declared emergency
measures to guard against a potential banking crisis resulting from
the country's economic slowdown, and is seeking international
assistance to fund a peace plan with the guerrillas. Guerrilla
violence and low world oil prices will likely continue to undermine
the economy in 1999.

GDP: purchasing power parity--$254.7 billion (1998 est.)

GDP--real growth rate: 0.2% (1998)

GDP--per capita: purchasing power parity?$6,600 (1998 est.)

GDP--composition by sector:
agriculture: 19%
industry: 26%
services: 55% (1996)

Population below poverty line: 17.7% (1992 est.)

Household income or consumption by percentage share:
lowest 10%: 1%
highest 10%: 46.9% (1995)

Inflation rate (consumer prices): 16.7% (1998 est.)

Labor force: 16.8 million (1997 est.)

Labor force--by occupation: services 46%, agriculture 30%,
industry 24% (1990)

Unemployment rate: 15.7% (1998 est.)

Budget:
revenues: $26 billion (1996 est.)
expenditures: $30 billion, including capital expenditures of $NA
(1996 est.)

Industries: textiles, food processing, oil, clothing and
footwear,