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Colombia: strong start to the year unlikely to be sustained

The stronger-than-expected Q1 GDP data from Colombia suggest that the risks to our forecast for the economy to expand by 0.8% over 2023 as a whole are skewed to the upside. That said, there were signs of underlying weakness in the data and we expect the economy to lose momentum over the course of the year as high inflation and tight monetary policy take their toll.

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