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- Bancos centrales; Precios; Macroeconomía; Crecimiento interno; Colombia; E31 - Price Level; Inflation; Deflation; E39 - Prices, Business Fluctuations, and Cycles: Other; E30 - Prices, Business Fluctuations, and Cycles: General; Central banks; Prices; Macroeconomics; Internal growth; Banco de la República (Bogotá) -- 2009 -- Informes; Inflación -- Colombia -- 2009 -- Informes; Mercado laboral -- Colombia -- 2009 -- Informes; Balanza de pagos -- Colombia -- 2009 -- Informes; E31 - Nivel de precios; Inflación; Deflación; E39 - Precios, fluctuaciones y ciclos económicos: Otros; E30 - Precios, fluctuaciones y ciclos económicos: Generalidades
As for the external environment, global economic activity continued to recover during the fourth quarter of 2009, particularly due to the monetary and fiscal stimuli provided by developed countries and the impulse observed in Asian countries such as China and India. This recovery is reflected in enhanced world trade and in better international commodity prices, which are above their historic average. Consequently, the external context for Colombia in 2010, excluding the Venezuelan market, is more favorable than it was in 2009, thanks to: I) a revival of external demand; II) international prices for our commodities that are above the historic average; and III) an international interest rate at levels that reduce the cost of financing international trade.