IMF lowers Colombia's 2026 growth forecast to 2.2% — The Rio Times

The International Monetary Fund has lowered its forecast for Colombia's economic growth in 2026 from 2.3% to 2.2%. In its October World Economic Outlook, the fund also worsened its expectations for 2027 — from 2.5% to 2.3%, The Rio Times reports.

According to the IMF's assessment, after growth of 2.6% in 2025, Colombia's GDP growth rate will stand at 2.2% in 2026 and 2.3% in 2027. The forecast for Colombia for the current year is below the expected figure for Latin America and the Caribbean — 2.3%.

Inflation and unemployment

The IMF forecasts average annual inflation in Colombia at 6% in 2026 and 5.7% in 2027. This is significantly above the country's central bank target of 3%.

The unemployment rate, according to the fund's forecast, will rise from 8% in 2025 to 9% in 2026 and 10% in 2027. The IMF also expects Colombia's current account deficit to reach 3.4% of GDP in 2027.

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Interest rate and public debt

On September 30, Colombia's central bank raised its key interest rate by 0.25 percentage points to 12.25%. In September, annual inflation in the country stood at 6.29%, according to the national statistics agency DANE.

According to IMF tables, Colombia's general government debt is expected to rise from 59.5% of GDP in 2026 to 62.9% in 2027 and 65.1% in 2028. The fund also estimates the general government overall deficit at 6.9% of GDP in 2026.

At the end of September, the Colombian government asked the IMF to conduct an assessment of the country's economy. Finance Ministry representatives planned to meet with fund representatives in Washington on October 6 to discuss possible financing.