Fully aware of the fact that the road to recovery for Spain is still long, the government presented a new set of reforms and adjusted economic growth predictions for the next few years.

The government of Mariano Rajoy forecasted the public deficit for this year at 6.3 percent of the GDP, a much higher target than the previous 4,5 percent, and it’s now expected that the country’s GDP will contract by 1.3 percent for 2013. But the most serious situation is unemployment, at an alarming 27,1 percent, a rate the government admits is likely to stay the same for the remainder of this year and will probably only decline slightly to 26,7 percent in 2014.

On the first day of 2014, exporters will no longer enjoy the benefits of the European Union’s Generalized System of Preferences, which is why it’s so crucial for Congress to approve the free trade agreement with that block in the upcoming legislature, a deal that was already approved by the EU.

And while the productive sector is well aware of the advantages that come with new commercial agreements, dairy farmers once again asked the Government to not leave them alone; moving forward, the milk sector will face some of the biggest challenges.

The 32 billion pesos the Colombian Government hopes will use to finance the so-called “fourth generation concessions” will depend, for the most part, on how relevant issues such as environmental concerns, previous consultations with communities and anything related  to land acquisitions are cleared up.

Representatives from Bancolombia and Davivienda made this clear during the Capital Markets Symposium at the Intercontinental Hotel, where the National Infrastructure Agency (ANI) presented the financing scheme for the development of 30 projects over the next few years.

The National Department of Statistics revealed today that 80 percent of the coffee consumed in Colombia in 2012 was imported, despite the fact that the country is the fourth largest coffee producer in the world and the global leader in exports of the Arabica variety.

Dane confirmed that some 1,03 sacks of coffee mainly from Ecuador and Peru came into the country last year, a percentage that’s equivalent to 80 percent of the coffee consumed in the country.

This increase in imports was precisely one of the reasons for coffee growers’ protests, who for 12 days staged demonstrations all over the country to demand improvements to the sector; the strike ended last March 8^th when an agreement with the Government was reached.

The CEO of the National Coffee Federation, Luis Genaro Muñoz, explained that the import statistics aren’t abnormal and that it comes from a decline in production and efforts to constantly improve the grain, to make it export quality.

The former general secretary of the National Coffee Federation, Guillermo Trujillo, explained to Semana Magazine that,“Colombian consumers are accustomed to a coffee more similar to the one brought into the country, which is cheaper and of inferior quality”.

“It’s imported at one dollar and our coffee is exported at 1,6 dollars, so it’s an exercise in which producers and consumers all win,” Trujillo said.  If the domestic market were supplied with superior quality coffee, “internal prices would be unattainable for Colombians.”

According to the Quality of Life Survey by the National Department of Statistics, 42,3 percent of Colombian were considered poor in 2012, which is less than the 43,2 percent from 2011. The study analyzed 21,383 homes and aspects like utilities, housing, social security, education and access to and use of Information and Communication Technologies (ICT).

The study also revealed that one out of every three people prefers to walk to work rather than take public transportation, while taking the bus is the second most common means of transportation among Colombians; however, the number of people who actually use the bus as their preferred means of transportation fell from 19,8 percent in 2011 to 18,7 percent in 2012.

Colombia now has five names on the Forbes Billionaires List with the arrival of Jaime Gilinsky Bacal (in the 613th slot) and the return of Carlos Ardila Lulle (in slot 225). The other Colombians with ten-figure fortunes are Luis Carlos Sarmiento, Alejandro Santodomingo and Woods Staton.

In terms of the number of people on the list, Colombia came out ahead of other countries like Greece, Cypress, Czech Republic, and the United Arab Emirates. Latin America has 98 people on the list, nearly half of them hail from Brazil.

Luis Genaro Muñoz, president of the National Coffee Growers' Federation, and President of Colombia, Juan Manuel Santos.

In Antioquia’s southeastern region, traffic was significantly lighter on Monday morning due to a strike organized by the nation’s coffee growers.

The representative for Antioquia’s Association of Coffee Producers (Aprocafé), Fabio Correa, announced the group would join the efforts of more than 4,500 participants, as he believes the crisis in the sector requires immediate urgent action on the Government’s part.

Coffee growers are protesting against a Government they claim has left them alone to survive a crisis that started more than a year ago, motivated by low grain prices, the peso’s revaluation and high prices of fertilizers and insecticides.

President Juan Manuel Santos called the strike “inconvenient, unnecessary and unfair” but said he respects coffee growers’ right to protest and asked that they refrain from altering public order or blocking the roads.

“No other administration has supported the sector like this one has,” Mr. Santos said, “Coffee growers haven’t been left alone. As a Government we have always been willing to support them. Coffee crops grew 64 percent in January of this tear, which shows that the sector is recovering.”

An economy that’s not growing to its full potential and inflation below the target are the two main factors driving the Board of Directors of the country’s Central Bank to lower interest rates to 3,75 percent.

“In Colombia, economic indicators for the fourth quarter of 2012 suggest that private consumption grew a bit less than in the two previous quarters. Uncertainty regarding investment, particularly in civil works and construction, is still high,” the Bank said.

According to the president of the National Competitiveness Council, Rosario Córdoba, Colombia is still far from becoming one of the three most competitive in countries in Latin America by the year 2032, which is the goal. “We are just not seeing the accomplishments,” she said, adding that while countries like Mexico, Peru and Brazil consistently take steps forward, Colombia seems to be at a standstill if not taking a step back.

In the Global Competitiveness Index by the World Economic Forum, Colombia fell to 69^th place, after being at 68 just the previous year.

Córdoba highlighted efforts originating in the public sector in terms of education, infrastructure, and Science, Technology and Innovation, but reminded the public that a country’s competitiveness improves only if productivity improves as well.

After 23 years with Almacenes Exito, Gonzalo Restrepo, will step down as president and CEO, a decision that will be effective on March 19^th. The Board of Directors studied and unanimously approved Restrepo’s resignation  and highlighted his “invaluable contribution to the consolidation of a business venture that allowed him to develop all of his professional potential and build deep friendships that will last a lifetime.”

The Board also named Carlos Mario Giraldo as the new president and CEO, a position Giraldo will fill starting March 20^th. Since coming to Almacenes Exito in 2008, Giraldo has been the head of retail operations and has worked closely with Restrepo, which is sure to translate into a smooth transition.