The Fitch rating agency reaffirmed Colombia's "BBB" credit rating with a stable outlook, citing a long history of prudent and consistent macroeconomic policies and a track record of financial stability. The rating agency emphasized that Colombia's macroeconomic outlook has improved since 2016 and has adjusted to the shock caused by the sharp drop in oil prices, which generated lower government revenues and weakened the peso. Fitch indicated that after years of growth below 2%, economic activity is expected to accelerate its pace of growth to 2.6% in 2018 and 3.3% in 2019.
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