IMF Video “Colombia: A Peace Plan, Oil Shock, and Crisis”

Colombia’s peace plan was almost thwarted by an oil price shock and economic crisis. Taking advice from the IMF, Colombia responded to the crisis by adopting a floating exchange rate, which helped the country absorb the shock from lower oil prices. As the economy stabilized, the government was able to focus on keeping the peace process on track.

 

FARC footage courtesy of: