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Colombia's finance minister sees GDP up 5-6pc this year

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He said the central bank, which raised interest rates last month, wants to anchor inflation expectations at 3 percent and that expectations are now edging down from about 3.5 percent.

He said investors were putting money into projects outside of traditional sectors like oil and mining to diversify the economy's sources of growth.

Foreign direct investment hit a record $14.5 billion last year and is on track so far this year to rise by 20 percent, he said.

Copyright Reuters, 2012