The first organization that has been on the forefront in efforts towards Colombia is the World Bank, which has been one of the financiers of the Colombian economic outlook. According to Offen (2003 p.62), the World Bank supports a majority of the infrastructure projects in Colombia including funding of road developments and construction of dams with the intention of ensuring that the country's economic outlook looks up. A review of the infrastructure projects in Colombia suggests that majority of these projects have played a key role in ensuring that the country has been able to maintain some form of economic platform for improved development (Chaparro Africano and Collado, 2017, p.212). Ultimately, this has been of value towards increasing capacity for the country to perform based on the set-out project outlooks funded by such organizations primarily focusing on the idea that the country acts as one of the economic hubs of the region.
The second organization that has been involved wholly in the development of Colombia is the International Monetary Fund, which focuses more on ensuring that it provides loans for the Colombia government towards promoting infrastructure development (Gabor, 2015, p.211). A review of the funding capacities of the International Monetary Fund, Colombia is among the countries that it provides the highest funds considering that it expects it to move towards becoming a middle-class country (Arabaci and Ecer, 2014, p.1582). Most of the loans by the International Monetary Fund has been used in funding economic stimulus projects in the country as a way of ensuring that the country achieves its overall intention of promoting economic development. On the other hand, the International Monetary Fund has also been on the forefront in highlighting critical challenges associated with economic development for Colombia (Nunn and White, 2016, p.186). Ultimately, the organization has been on the forefront in highlighting key challenges that the country is facing about economic improvements in the country.
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Bibliography
Arabaci, Mehmet C., and Spencer Ecer. "The International Monetary Fund (IMF) and the Catalytic Effect: Do IMF Agreements Improve Access of Emerging Economies to International Financial Markets?." The World Economy 37, no. 11 (2014): 1575-1588.
Chaparro Africano, Adriana, and Ángel Calle Collado. "Peasant economy sustainability in peasant markets, Colombia." Agroecology and Sustainable Food Systems 41, no. 2 (2017): 204-225.
Gabor, Daniela. "The IMF's rethink of global banks: critical in theory, orthodox in practice." Governance 28, no. 2 (2015): 199-218.
Nunn, Alex, and Paul White. "The IMF and a new global politics of inequality?." The Journal of Australian Political Economy 78 (2016): 186.
Offen, Karl H. "The territorial turn: Making black territories in Pacific Colombia." Journal of Latin American Geography 2, no. 1 (2003): 43-73.
