The issuer’s board on Friday unexpectedly cut its main benchmark interest rate to 3%, contrary to what the market expected and analysts.

‘No, nor do I believe, “Zuluaga said in an interview with Reuters Forum on Investment in Latin America.

“It’s very difficult to predict so, we are approaching a low level, the reduction last Friday was a surprise to all the analysts and the market, but we believe that this reduction is given the final impetus the economy needs to to generate an even longer recovery process, “said the official.

Colombia’s central bank kept its rate unchanged for four months, after a series of successive cuts between December 2008 and November 2009, a period in which the cut by 650 basis points.

“The economy is growing, the signs are positive but we believe this will be an extra boost that can accelerate the pace of economic growth,” he said.

Discarded debt operations. Zuluaga said that the current government of President Alvaro Uribe, who will hand over power to whoever is elected in the forthcoming elections in late May, made no new debt operations in international markets.

On April 7, Colombia sold a global bond due in 2021 for $ 800 million and completed his internal financing plan of 2010.

“The Government has no plans new debt operations in international markets, we have completed what we set out in the financial plan for 2010 and any decision in this matter and will be for the new government,” he said.

The finance minister also ruled out any domestic debt swaps and said that the present Government has no plans to change its goal of placing TES (domestic debt) of 26 billion pesos (U.S. $ 13,175 million).

Colombia two weeks ago, an exchange of domestic debt by 3.5 billion pesos (U.S. $ 1,773 million) to alleviate their fiscal needs of this year.

“The government has no plans to change its goal of placing TES and and that is an area that will be for the new government budget evaluate their circumstances, their investment plans, its priorities for spending and that will take you to define how to work placement goals, “he said.

Zuluaga said that the Government of Colombia maintains its growth target at 2.5%, but admitted the possibility of review after such time as the result of economic performance in the first quarter.

Isagen. Moreover, the minister said that the sale of electricity generator Isagen, controlled by the state, remains a priority for the Government for being a fiscal necessity.

The government hopes to raise at least 3 trillion dollars (U.S. $ 1,520 million) by selling assets Isagen.

“That is a priority issue on the agenda is (…) remains the Government’s goal to achieve before we leave the definition and walk process defined because it has been our priority, had in the Financial Plan 2009, has been since the beginning of 2010 Financial Plan and from the fiscal point of view is a necessity, “he said.

China. Zuluaga also felt the need for China to appreciate its currency, the yuan, to keep the global economic balance.

“It’s a concern for the world, because otherwise it will create a global imbalances that can affect the very sustainability of medium-and long-term Chinese economic growth,” he said.

“We need greater appreciation of Chinese currency to restore better balance in the global economy,” he said.

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