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BOGOTÁ – Thank you, Minister Cárdenas, for hosting me here today. It’s an honor to visit Bogotá at this important moment, as Colombia moves forward toward a brighter future of peace, security, and prosperity. I met with President Santos earlier today and added my congratulations to those of President Obama and Secretary Kerry on the signing of the historic peace accord. I also want to thank Minister Cárdenas for arranging an informative and engaging roundtable with Colombia’s leading economic and policy thinkers today.
Minister Cárdenas and I focused our discussions on the implications of the peace accord for Colombia’s economy and the well-being of all Colombians. The United States is one of Colombia’s closest allies, and we will continue to be your partner in peace, as President Obama committed when President Santos visited him in February.
Colombia has demonstrated that countries that navigate their fiscal, structural, and monetary policies well are better positioned to be prepared in both good times and bad. Minister Cárdenas and I discussed Colombia’s ongoing economic adjustment to lower global prices for its oil exports, including the fiscal challenges that the oil price decline has imposed and the government’s ongoing efforts to address them.
Colombia, like other emerging market economies in the region, faces the challenge of becoming less dependent on the export of primary commodities. I was impressed by the energy and commitment with which Colombia is tackling this challenge. We also very much support the government’s strong efforts to attract private sector financing for its infrastructure in a fiscally prudent framework.
I am confident that our ongoing cooperation will continue to reflect the long history of our close partnership, to the benefit of both our countries. Thank you.
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