The Central Bank and its interest rates, pointed out by President Petro for 'stopping economic growth'
Germán Ávila, Minister of Finance and Public Credit, and Leonardo Villar, Manager of the Bank of the Republic. Photo: Bank of the Republic
TL;DR
- President Petro believes high interest rates from the Bank of the Republic are slowing economic growth and employment in Colombia.
- He noted that inflation has fallen to its lowest levels this century, but interest rates are preventing further progress.
- Petro criticized board members who voted to maintain high interest rates.
- He regretted appointing a board member recommended by former minister José Antonio Ocampo, calling it a "major error."
- Petro hopes future governments will steer the Bank towards a healthier economy, avoiding "vampiric hands."