Monday, 28 July 2008

Colomibian Uribenomics

The rescue of Mrs Betancourthas, on the eve of Senator McCain's visit to Colombia and a constitutional showdown with the Supreme Court, has seen President Uribe's popularity soar to 92%.

Security is the foundation of President Uribe's economic model, locally known as Uribenomics. The idea is that a sense of greater security engenders virtual cycle. The goal of this economic policy is to release the pent up demand of 44 million Colombian consumers who have put there money under the mattress during two and half decades of civil war.

The concept is working. GDP growth is 7.3%, the highest level in three decades. The peso has appreciated 20% since the start of 2007.

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