Page One Daily News
COLOMBIA - 4% Minimum Wage Increase

* COLOMBIA

4% Minimum Wage Increase
According to the Central Bank, a minimum wage increase above the inflation target could affect the country's macroeconomic variables

The Central Bank proposed a minimum wage increase for Colombian workers for 2010 of between 3 and 4%. The announcement was made today by the bank's manager, Jose Dario Uribe, who explained that this adjustment would be in line with the inflation target projected for this year. He also added that the minimum wage in 2009 saw an enormous increase, well above the inflation target.
03-Aug-2009 04:08pm