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Colombia began working on its so-called 4G toll-road project in late 2011. With Colombian growth then around 5%, the aim was for the 40 separate road projects to combine to boost GDP growth to around 6.5%. However, with the Colombian economy suffering from falling commodity prices – particularly from the fall in oil – the effect of this infrastructure initiative is likely to keep Colombian growth to about 5%. The president of Colombia’s national infrastructure agency, Luis Fernando Andrade, explains how the project has developed and what it might mean for other Latin American nations.
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As lots of Latin American countries begin to look for infrastructure-led growth to replace commodities, what do you think are the keys to success for those countries considering such an economic pivot?
There are a couple of fundamental considerations for those thinking about using infrastructure as a means to propping up the economy.
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