Selling fine coffee to the world, Colombia takes in a golden torrent of foreign exchange$300 million in the first eight months of this year. As a result, Colombia should be solvent, sound and stable. Instead, after two years of political mismanagement of its income, Colombia is setting off economic alarm bells both at home and abroad. It owes the tradesmen of the world around $345 million, and has become the No. 1 collection headache for U.S. exporters. The debt has sapped the nation's credit, its currency and its reserves. "The Colombian economy," said a U.S. Government official whose business...
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