This chapter includes the following articles.
With a total market capitalization of $93.49bn in September 2015, the Bolsa de Valores de Colombia (BVC) is the fourth-largest stock exchange in Latin America, behind those of Brazil, Mexico and Chile but ahead of Peru’s. During the course of 2015 investor nervousness over emerging markets following the end of the commodities boom, coupled with rising US interest rates in December, prompted a flight to quality, especially US high-quality bonds and dollars, resulting in severe declines in share prices and reductions in liquidity and overall trading volumes across the region. The BVC was not immune to this. The Colcap, a Colombian capitalization index, fell 29% during 2015, closing at 1154, driven in large part by the sharp fall in oil prices since mid-2014. Even so, the prospect of a peace settlement in 2016, coupled with Colombia’s strong fundamentals point to a positive outlook for the sector.
This chapter includes an interview with Juan Pablo Córdoba Garcés, President, and Colombian Stock Exchange (BVC).