Colombia: CDS Market Vulnerable

February 2009
Emerging Markets Monitor;2/2/2009, Vol. 14 Issue 41, p13
Country Report
This article highlights the vulnerability of Colombia's 5-year CDS as the market has yet to price in sufficient macroeconomic risk for some of the stronger economies in Latin America. CDS market has yet to factor in the possibility of recession in Colombia in 2009. The dismal macroeconomic data in December 2008 and January 2009 have led this periodical to reduce its economic growth forecast for 2009 to 1.5% from 2.1%.


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