Last month, top Colombian economic minds gathered in Bogotá for a Grand Economic Forum on attracting investment as the country emerges from a decades-long civil war. Andres Cadena, a senior partner at McKinsey & Company, distilled the issue to its essence: “Colombia’s great challenge is that it has not found its growth model. The country has been growing with an economic model that generates growth, but not well-being. It is not an inclusive model.”
With no shortage of development dollars flowing to Colombia, how can that investment translate into an inclusive model of private sector-led economic growth? And how can the model become self-reliant over time?