The strategy of inflation target in Colombia

The article examines the most important characteristic that should have an economy to adopt this regime type (Inflation Targeting); also makes emphasis in the monetary politics's handling in Colombia in the decade of the ninety, in 1991 the Political Constitution of Colombia grants independence to the Bank of the Republic and it awards as main objective to look after the purchasing power of the currency, this way it is given it began to the change of monetary regime, they are begun to adopt some of the elements of the objective inflation. In 1994 it is changed exchange regime, spends of the outline of daily crawling peg, in 1999 it is allowed to float the rate of change completely and at the beginning of the new millennium it is adopted the inflation Targeting outline completely using as main instrument the Operations of Open Market (OMAs).