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The Macro economy of Colombia (Essay Sample)

This paper has to be about the overall macroeconomy in Colombia. Please write about Colombia´s current economic growth, labor force, currency, banking system, consumption, debt, budget, inflation, taxes, investment, interest rate, trade and demography. source..
The Macro economy of Colombia.
Colombia is a country located in the northwestern region of South America. It is the second largest country in South America after Brazil. It is a Spanish speaking nation with the third largest population in the world of Spanish speaking people. Its location makes it the only country in South America that has coasts in the Pacific Ocean and the Atlantic Ocean. Colombia was colonized by Spain after the arrival of the Spanish in 1499. The country attained independence in 1819 but later collapsed with the secession of Venezuela. The country was declared a republic in 1886.The country was the first to have a constitutional government with the Liberal and Conservative parties as the oldest surviving political parties. As a result of tensions between the two parties, Colombia has experienced a series of violence eruptions over a long period of time.
1 Demographics
2008 statistics indicated that Colombia had an estimated 48 million people. This makes it the third most populous country in Latin America. Between 1975 and 2005, Colombia had an increase in population at the rate of 1.9%. The country`s age profile indicates that in 2005, 5.1% of the population was aged between 65 and above compared to over 30% aged less than 15 years. From this statistics, it is projected that the country will have 50.7 million people by 2015. A majority of the Colombians are found in the Andean highlands and along the Caribbean coast. The eastern lower departments making up 54% of Colombia have less than 3% of the population. The twentieth century was characterized by a lot of rural to urban migration making Colombia one of the most urbanized countries in Latin America. This increase is denoted by a population increase of 60% in 1975 from 31% in 1938 in the urban areas. By 2002, the figure had risen to 72.7%. Bogota, the capital city of Colombia, has approximately 8 million people. In 2010, Colombia registered the highest number of an estimated 4.5 million internally displaced people (IDPs). The country has a mixed population. A majority of the people are the Mestizo, a people of mixed European and Amerindian ancestry. Part of the population is a people of mixed African and European ancestry. Those of European ancestry make up approximately 20% of the population. Despite the fact that Colombia is a Spanish speaking country, 101 languages are listed in the Ethnologue database. Of these, 80 are spoken today. Colombia has many indigenous groups with the largest being the Wayuu, The Arhuacos, the Kuna, the Paez, the Tucano the Muisca and the Guahibo. The population also consists of immigrants from Arab, Lebanon, China and Africa. The African immigrants were brought as slaves.
2 Colombia`s Economy
It is important to highlight that Colombia has grappled with internal armed conflict for a long time. This has had serious consequences on the country`s economy. In the latter part of the twentieth cen...
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