Wednesday, July 28, 2010

An Overlooked Nation

When looking for strength in stock market regions around the world, one best track the recent path of the countries financials. Case in point Colombia, and its premiere banking franchise Bancolombia (CIB). A beautiful stock chart in a wonderful uptrend. Lets take an indepth look as to why the country is enjoying such a substantial transformation.

On July 20th of this year Colombia celebrated its 200th anniversary. Merely a decade ago the country was near disaster. Its cities are now safe and secure. Crimes like kidnapping are down 90% and murder by 45%. The New York Times boasts the nation as one of the best places to visit. This year alone Colombia will draw in more than $10 billion in foreign investment, a sure sign of economic and political stability.

Among those deserving credit are former President Bill Clinton who initiated Plan Colombia in the late 1990's. Under the plan hundreds on millions in foreign aid was used to tackle the narcoterrorists and restore law and order to the Colombian society. He continues to this day to support the hopeful passage of the U.S-Colombia free trade pact. Warranting more acclaim are President Alvaro Uribe President elect Juan Manuel Santos (both Harvard graduate school alumni). The latter, a conservative, won by a landslide and vowed to advance the free market principles Uribe put into place. The pro capitalist philosophy both men practice enabled Colombia to be the "C" in the recently created CIVETS (Colombia, Indonesia, Vietnam, Egpyt, Turkey, South Africa) acronym. The phrase blessing 6 emerging market countries that exhibit compelling growth.

Colombia is a country slasing taxes, reducing government, favoring privatization, and endorsing free trade with many partners across the globe. Can the U.S. Congress please stand up and recognize Colombia for the brillant, astonishing turnaround story that it truly is?