More on the downside of relying on commodity exports. In Colombia, even the vice president (Angelino Garzón, a former union leader) admits that there are problems serious enough to generate discontent.
To increase investment in oil wells and mines, President Juan Manuel Santos has lured international companies to Colombia by improving security. The government seeks higher metals and oil production while striking a balance with economic and social development, Garzon said.
Some foreign companies investing in Colombia have abandoned the social, labor and environmental “good practices” they follow in their home countries, he said.
“Here they do just the opposite,” he said. “Companies have to revise their practices.”