The best and worst events of 2011 for Latin American business.

BY LBC STAFFThe cost of exporting and importing containers of cargo in Colombia has soared, according to a Latin Business Chronicle analysis of new data from The World Bank’s Doing Business 2012 report.

BY LBC STAFF

BY PETER DeSHAZO, TANYA PRIMIANI AND PHILLIP McLEANDuring the late 1990s, Colombia’s financial system experienced a period of stress, characterized by the failure of several banks and other financial institutions, as well as by the severe deterioration of the whole system’s financial health. The situation was exacerbated by the violent conflict and in 1999 the country’s GDP fell by 4.2 percent, the first contraction in output since the 1930s. Since then, Colombia has successfully turned its economy around through a combination of fiscal reforms, public debt management, reduction of inflation, and strengthening of the financial system. The policies that have been adopted since 1999, supported by three successive IMF arrangements, have placed the country on a path of sustainable growth while reducing poverty and unemployment. Colombia’s economy has also benefited from high commodity prices and a dramatic improvement in the security situation.Colombia’s fundamentals are strong. The cou...