Colombia's economy grew 2.8pc in first quarter on year: statistics agency

BOGOTA: Colombia's economy expanded 2.8pc in the first quarter, led by the mining sector, the government's statistics agency said on Tuesday, beating last year's 2.0pc expansion.

Growth in the first quarter was unchanged compared with the fourth quarter, said Juan Daniel Oviedo, the head of the DANE agency, during a presentation.

Policymakers in the Andean country have held the central bank's benchmark interest rate at 4.25pc for more than a year in a bid to encourage consumer spending while trying to keep inflation from creeping higher.