Colombia: Colombian Bank Usage Drops for the GSM-102 Program

  |   Attaché Report (GAIN)

FAS/Colombia is writing a series of reports on the opportunities and challenges for agriculture under the Colombia Trade Promotion Agreement (CTPA), which went into force in May 2012. This report analyzes the reasons behind the recent drop in participation of Colombian banks in the GSM-102 program. U.S. agricultural exports that have been facilitated through the GSM-102 program have been increasing steadily, from $30 million in 2012 to $227 million in 2014. Ironically, regional Latin American banks rather than Colombian banks are using GSM-102 for Colombia. The primary reasons behind this drop in participation include a more stable Colombian economy with higher levels of liquidity, as well as a global connectivity that has enhanced Colombian banks’ ability to access international lines of credit with longer repayment terms at lower funding costs (interest rates and administrative fees).

Colombia: Colombian Bank Usage Drops for the GSM-102 Program

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