Colombia net foreign investment up 29 pct in first half
BOGOTA, July 14 (Reuters) - The net flow of foreign investment into Colombia rose 29 percent in the first half of the year after an increase in cash into local portfolios, the central bank said on Monday.
Net foreign investment reached $13.8 billion in the first six months of the year as money into portfolios soared 127.6 percent from a year earlier to $6.3 billion, following a spike in cash entering when J.P. Morgan in March boosted the weighting of Colombian bonds in two of its indexes.
Foreign direct investment fell 8.4 percent to $8 billion during the period. Cash into oil and mining, which has suffered numerous attacks on its infrastructure by leftist insurgent groups, fell 7.4 percent to $6.7 billion.
The heavy spurt of overseas investment into portfolios is partly behind the appreciation in the currency over the last couple of months. The peso has gained 3.9 percent this year.
In June alone, portfolio investment rose 240.7 percent to $1.7 billion. (Reporting by Nelson Bocanegra; Writing by Helen Murphy; Editing by Bernard Orr)
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