Colombian Economy Losing Some Dynamism
December 30th, 2011Source: MarketWatch
The Colombian economy could be slowing down despite posting strong gains in recent months while the risk of a “disorderly adjustment” in Europe remains a threat to Colombia’s economic performance, the central bank said in the minutes from its last monetary policy meeting.
The central bank, which chose to leave unaltered its key interest rate at 4.75% during its Dec. 16 meeting, warned that although the Colombian economy remains “dynamic” there are signs that “momentum could be slowing down.”
Data released after the bank’s meeting showed that the Colombian economy expanded 7.7% in the third quarter, soundly beating the central bank’s projections which called for an increase of at least 6%.
Inflation, meanwhile, remains at the upper half of the central bank’s 2% to 4% target range, although inflation expectations have declined slightly according to recent data cited by the central bank.
Devastating rains in recent months have had an impact …
Landing a Call Center on an Exotic Island: What’s it Really Like?
December 23rd, 2011By Patrick Haller
San Andres, Colombia is a top vacation spot for Colombians and foreigners from around the world. Long-known for its relaxed vibe, coral reefs, snorkeling and similarities to Jamaica (including a vibrant Rasta culture and worshipful love of Bob Marley), it is perhaps one of the last places one would think of to open a contact center. Yet, that is exactly what Barranquilla, Colombia-based Transcom did a year ago.
So, what happens when the high-demands of a 21st century call center are put on the shoulders of a culture that is more familiar with sandals and sunshine than service-levels and client “sat”?
Colombia Sees Lower Than Expected Inflation
December 6th, 2011Source: Reuters
Government posts 0.14 pct inflation in November
* Consumer prices up 3.96 pct in 12 months to November
* Prices increase 3.29 pct in Jan – Nov period
Colombia’s consumer prices rose 0.14 percent in November, the government said on Monday, well below the 0.20 percent increase forecast in a Reuters poll.
The Andean country reported inflation at 0.19 percent in October, the same as in November last year.
Inflation in the 12 months to November was 3.96 percent, the government’s DANE statistics agency said, slightly below the central bank’s annual inflation target for 2011.
The monetary authority has set an inflation target of 2 percent to 4 percent for this year.
The rise in consumer prices last month was driven mainly by the communications, transport and health sectors, the DANE said.
Colombia’s central bank raised its benchmark interest rate by 25 basis points to 4.75 percent last month in an attempt to put a …
Colombian Economy Expected to See Positive Growth in 2012
November 21st, 2011Source: Reuters
Colombian Finance Minister Juan Carlos Echeverry said on Thursday he expected economic growth of between 5 percent and 5.5 percent in the fourth quarter versus 6.7 percent in the third quarter.
Resource-rich emerging market countries like Colombia have seen their economies expand briskly in recent years, although deteriorating U.S. conditions and financial troubles in Europe are weighing on expectations for their future growth.
“It’s very solid growth. The idea is to stay stable at these levels,” Echeverry told a conference in the Colombian coastal city of Cartagena.
Echeverry said that full-year 2011 economic growth should be around 5.5 percent versus a previous projection by the ministry of at least 5 percent, while the worst-case scenario for 2012 would be a growth of 4.5 percent.
“Next year, we see it between 4.5 and 6 percent, it’s impossible to say right now if it’ll be better. I don’t know what’s going to come …
Colombian Students Vow to Strangle Bogota
November 9th, 2011Source: Colombia Reports
Students protesting higher education reform have announced plans to set up a permanent camp on Bogota’s central Plaza Bolivar, Caracol Radio reported Wednesday.
The camp will be set up in Plaza de Bolivar following a day of nationwide protest against the government’s proposed “Law 30″. At least 30,000 people are predicted to march in Bogota, where trade unions and other social organisations have pledged to join students on the streets – with some promising to help them “bring the city to a halt”.
More than buses full of activists will arrive in the capital tomorrow to join the encampment. They include members of the Confederation of Workers and workers from Pacific Rubiales, Colombia’s largest private oil company. Workshops and discussion groups are planned.
Sergio Tiempo, a spokesman for the Alternative National Education Board, which is leading the protest movement, told El Tiempo newspaper that if the government did …
Convergys Officially Welcomed to Bogota (See Our Photos)
October 21st, 2011NSAM Staff Report
Colombian President Juan Manuel Santos was joined by Dr. Diego Molano, Minister of Information Technologies and Communications, Convergys Senior Vice President of Operations Christine Timmins Barry and other dignitaries to officially welcome Convergys to the Colombian capital, Bogota, at a special dedication conference yesterday.
The Bogota center began operating in January 2011 and employs 850 bilingual agents who service incoming calls for an international telecommunications client by phone, web-chat, SMS and email. Convergys plans to increase the number of staff to 1,000 by the end of the year, and eventually reach 5,000 positions, and expand the offering to include customer service, technical support, help desk, back office, and IVR support to a diverse portfolio of Convergys clients and their customers.
“The opening of this facility in Bogota demonstrates Convergys’ commitment to Colombia and to our employees here for the outstanding work they perform every day,” said Timmins Barry. …
Colombia’s Cali Takes Flight with DirecTV and Pan-American BPO
October 19th, 2011By Luke Bujarski
Affordable infrastructure, low wages, big labor pool, and a strong work culture were all good reasons why satellite television provider DirecTV (DTV) chose Cali, Colombia as its newest Pan-American contact center hub. That’s what Site Director Fabian Saavedra shared with us during an interview earlier this week. According to Saavedra, their decision to go with Cali in 2008 has proved decisive to DTV’s success in Latin America, which currently dominates the subscription TV market across Venezuela, Argentina, Chile, Colombia, and Puerto Rico.
Calls To Replace Coffee As Main Product In Manizales, Colombia
October 18th, 2011Source: Inquirer News
In Manizales, in the heart of Colombia’s prime coffee production zone, officials have found the solution to volatile commodity prices and raging unemployment: call centers.
The city of 380,000 people – nestled in the Andes mountains in the central department of Caldas, about 175 kilometers (110 miles) northwest of the capital Bogota – is attracting multinational firms and putting residents back to work.
Authorities in Manizales did everything to keep the coffee trade afloat.
“We tried to increase production, the number of hectares used. We also tried to specialize in a quality niche coffee, but nothing seemed to work. Meanwhile, Brazil solidified its position as the world’s top coffee producer,” city mayor Juan Llano told AFP.
In 2005, the unemployment rate in Manizales had hit 20 percent, giving the city the dubious distinction of being among the top three cities in Colombia in terms of the number of jobless.
Llano …
Proposed Colombian Education Reforms Fuel Protests
October 14th, 2011Source: BBC
Thousands of students have protested in the Colombian capital, Bogota, and other cities against government plans to reform higher education.
The demonstrations were mainly peaceful but Bogota police fired tear gas and used water cannon after some people threw stones, officials said.
Students say the proposed reforms will lead to partial privatisation of the public universities.
The government says the changes will bring more funding into the sector.
An estimated 20,000 to 30,000 people marched through Bogota on Wednesday.
Student demonstrations were also held in other town and cities.
Most passed off without major incident, but in Cali a 19-year-old man died when explosives he was carrying went off, police said.
President Juan Manuel Santos’s government says reform is needed to bring more resources into the university system and widen access.
Students say the moves will introduce a profit motive into higher education.
‘Infiltrated’
In Chile, students have been demonstrating for months to demand for free education, …
FTAs with South Korea, Colombia and Panama Win US Congressional Approval
October 13th, 2011Source: The New York Times
Congress passed three long-awaited free trade agreements on Wednesday, ending a political standoff that has stretched across two presidencies. The move offered a rare moment of bipartisan accord at a time when Republicans and Democrats are bitterly divided over the role that government ought to play in reviving the sputtering economy.
The approval of the deals with South Korea, Colombia and Panama is a victory for President Obama and proponents of the view that foreign trade can drive America’s economic growth in the face of rising protectionist sentiment in both political parties. They are the first trade agreements to pass Congress since Democrats broke a decade of Republican control in 2007.
All three agreements cleared both chambers with overwhelming Republican support just one day after Senate Republicans prevented action on Mr. Obama’s jobs bill.
The passage of the trade deals is important primarily as …
