DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/1bc432/colombia_defence_a) has announced the addition of the "Colombia Defence and Security Report Q1 2012" report to their offering.
In its last update, BMI noted that the October 2011 regional elections taking place in Colombia may prove to be a key turning point in the government's efforts to suppress the Fuerzas Armadas Revolucionarias de Colombia (FARC) and other leftist insurgents, and that continues to be the case. At the time of writing in mid-October BMI is on the eve of these elections, and all eyes remained very much focused upon proceedings.
BMI notes, however, that over the past quarter it has already witnessed another key event which could well prove to be a turning point for the incumbent government in their ongoing struggle against insurgents. Indeed, the recent complete replacement of Colombia's military top brass and appointment of new defence minister Juan Carlos Pinzon, amid concerns of rising insurgency violence, show that the authorities are attempting to tackle the problem head on. What is more, this has been followed by an announcement that President Juan Manuel Santos intends to ramp up defence spending. BMI is forecasting spending of COP25,544,725.4mn in 2012, up by 10% from the expected expenditure of COP23,225,016.2mn in 2011.
Rising violence in recent months is no doubt causing considerable concern for Santos, whose hard-line security policy stance is broadly a continuation of his predecessor's, lvaro Uribe. BMI has previously flagged its concerns over the recent upticks in violence, and therefore regard the extra funding as a potentially positive development for the regional security profile.
But as BMI notes, the war is far from won. On September 19 2011, it was reported that the FARC had launched an attack on a police station in Las Mercedes, Colombia, injuring six police officers and two soldiers. Moreover, an uptick in violence in the run-up to Colombia's October 2011 regional elections highlight the ongoing potential for security issues to disrupt the country's positive economic trajectory over the coming years. However, BMI remains confident that the hard-line policy stance taken by President Juan Manuel Santos will continue to consolidate the successes of his predecessor lvaro Uribe. Another significant security issue raised since BMI's last update, was made by the Colombian Minister of Mines and Energy, Mauricio Cardenas, who announced that illegal gold mining in Colombia is set to become the next major threat' to the nation's security, as criminals move away from cocaine production and in search of new revenue sources due to government clampdowns. Guerrilla groups and organised crime gangs are also tapping the deposits as a way to expand beyond drug trafficking, fund weapons purchases and manpower. It has been reported that guerrillas already long present in some mining areas are now bringing in heavy equipment and consolidating to increase output in provinces in central and southwestern Colombia.
Companies Mentioned:
- Industria Militar (Indumil)
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