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Columbia is now the third largest Economy in Latin America

 (Image source: parlourmagazine.com)

As a result of the economic woes in Argentina, the country has lost its spot as the third largest Latin American economy in the western hemisphere. Rising inflation, the depressed peso, and lack of economic growth are all drives in Argentina’s decline. Columbia has replaced Argentina has the third largest economy in Latin America. Unlike Argentina, the Columbian peso has been resilient and inflation remains at manageable levels. In addition, according to the IMF, Columbia’s GDP is expected to growth nearly 5 percent for the current year.