“Expect an economic hurricane in Latin America”: World Bank chief economist

In an interview with Dinero.com, the expert admitted that Colombia’s economy, which is not yet in recesion, will feel stronger symptoms in March and April. “What is coming to the region is a hurricane originated in the North, in the rich countries”, he stated. “It is only a matter of time before we feel this brutal phenomenon of the decrease in worldwide aggregate demand”.In an interview with Dinero.com, the expert admitted that Colombia’s economy, which is not yet in recesion, will feel stronger symptoms in March and April. “What is coming to the region is a hurricane originated in the North, in the rich countries”, he stated. “It is only a matter of time before we feel this brutal phenomenon of the decrease in worldwide aggregate demand”.

When asked how the crisis could affect Colombia, de la Torre said it depends on how it is affecting other countries. “Each time you ask how Colombia will suffer from this crisis, you have to ask how the US, Europe and the rest of the world will be affected”.

De la Torre gave a similar answer to discuss how long the crisis could last. “It also depends on the US, but be prepared to cope with a static economy for at least a year”.

“Lo que se viene es un huracán”