‘Next big thing’ in emerging markets?
Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa. What do they have in common? According to economists, the CIVETS – as this collection of countries are called – are the ‘next big thing’ for investors in emerging markets.They have been described by the Economic Intelligence Unit as second-tier BRICs – the acronym given to the growth economies of Brazil, Russia, India and China.
So are CIVETS worthy of investment?
Colombia
Government policies influencing economic growth Reforms introduced by Colombia’s former presidentÁlvaro Uribe when he came to power in 2002 won praise from several international financial
institutions and, coupled with a new democratic security strategy, engendered a growing sense of
confidence in the economy. They included measures to reduce the public sector deficit.
GDP growth in 2003 was among the highest in Latin America, at more than 4%. By 2007, it had
grown to more than 8%, although it fell to 4.4% in 2010. Juan Manuel Santos, who won
presidential elections in June 2010, has promised to develop the country's infrastructure, create
more jobs, and make Colombians less dependent on the informal economy
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