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25 September 2009

Colombia Suffering Longest Recession Since 1999.

COLOMBIA REPORTS/
Colombia, the fifth-largest economy in Latin America, has seen key exports of oil, coffee and coal fall due to lower demand caused by the world financial crisis. The decrease has suppressed manufacturing, cut tax revenues and contributed to a rise in unemployment.
Also taking a toll is the clampdown on commerce by No. 2 trade partner Venezuela to protest Colombia's deepening military ties with the United States.
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