This paper describes the Banco de la República's FX intervention policy, with a focus on its objectives and main features. It then argues, based on a review of the literature on the effectiveness of sterilized intervention in Colombia, that this tool is not a useful way of coping with the...

This technical note and manual (TNM) addresses the following issues: -- Evaluating the full implications from the policies adopted to mitigate the impact of the COVID-19 pandemic on the economy requires a well-developed macroeconomic framework. This note illustrates how such frameworks were used...