Finance Minister Fernando Alvarez Bogaert has revised the forecast for this year?s growth from 6.5% to 3-4%. This is a drop from the 7.8% posted last year. He forecasts an inflation rate of 7% for 2001. The Minister attributed the drop in growth to high petroleum prices and the slow down of the US economy. Alvarez favors seeking new resources to activate the economy, mentioning the possibility of issuing sovereign bonds or the country taking additional international loans. President Mejia spoke up yesterday in favor of issuing bonds.
