Colombia central bank board chief says economy will not grow as expected in 2023

Colombia's economy will not grow as expected this year, central bank board chief Leonardo Villar said on Friday, citing the contraction in the country's gross domestic product (GDP) in the third quarter of the year versus the same period in 2022.

"This negative surprise will probably mean that full-year GDP growth will not reach the 1.2% forecast by the technical team in its monetary policy report in October and that it will possibly be closer to the 0.9% that the team estimated three months ago," Villar said.