The International Monetary Fund (IMF), embraced the integration that the Government of Colombia has given to the Venezuelan migration, who have contributed positively to the economy of that country without displacing the work of its citizens.
“With the arrival of more than 2 million people in recent years, Colombian society has demonstrated an exemplary commitment to and support for vulnerable immigrants. Venezuelans stimulated the growth of the economy by approximately 0.25% in 2019,” the organization said in a statement at the end of the annual review of the Colombian economy.
The multilateral agency also recognized that although Venezuelan migration has also caused some annual fiscal costs of about 0.25% of GDP in the short term, they do not rule out that the number will decrease as migrants integrate into the economy.
According to the report, Colombia should have a GDP growth of 3.4% this year, and expects that sustained migration, remittances from abroad, and accommodative monetary and credit conditions will continue to sustain private domestic demand, including growing investment.