The war between Ukraine and Russia It was unleashed in the night hours of February 23 with the first bombardments by Russian troops. Given the crisis that is being experienced in this area of Europe, the impacts for the world are becoming more and more latent.
(Read: How will the Ukraine crisis affect the Colombian market?).
In the Colombian case, the Finance Minister, Juan Manuel Restrepo, assured that this conflict could generate an impact on the costs of some products in the country. Which would add to the logistics crisis that is experienced in the world.
The senior official assured, for La FM, that a large part of the inputs used for fertilizers in the country come from Russia. One of them is wheat, the main ingredient for the production of bread.
“Situations like the ones taking place today in Ukraine and Russia will eventually have a cost impact. No war of this nature is desirable in the world, because that is the only thing that generates is destruction, difficulties and deaths.“, he assured.
Along with this, he cut that the problem of inflation control Worldwide. “For example, in the United States, inflation reached 7%, never before, in the same way, in Europe it is between 5% and 6%, clearly there is a problem“, he pointed out.
(What’s more: Dollar in Colombia also suffers the effect of the attack on Ukraine).
For this reason, he assured that in order to face the high cost of a visa, the decisions of the Bank of the Republic with rising interest rates. Together with the reduction of the costs of tariffs on agricultural inputs.
Finally, about the energy crisis that Europe is experiencing due to the Russian conflict, Colombia does not have a dependency on natural gas from Russia and can have peace of mind in this regard.
The effects would also be seen in the stock market, according to Jeisson Balaguera, executive director for Values AAA and professor at the EAN University. The expert indicates that with this type of global tension, the markets tend to panic. In consecuense, the commoditieslike gold and oil, tend to rise in price and stocks tend to fall.
Along with this, in business terms, Balaguera assures that the most affected sectors will be the technological and financialtaking into account what has happened in previous crises.
(What’s more: Dollar in Colombia also suffers the effect of the attack on Ukraine).
However, currencies will also receive the effects of the crisis. In the case of the dollar in Colombia, once the attack began, it rose strongly, although it moderated the gains with which it started the negotiations when it reached up to 66 pesos. However, during the day, the price of the US currency has been giving way.
BRIEFCASE
