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By Monica Garcia BOGOTA, Oct 8 (Reuters) - Colombia on Wednesday lifted foreign capital restrictions on local bonds and sought to speed up financing for the next three years to defend its economy as world markets get battered by the global financial crisis. President Alvaro Uribe said his government would lift restrictions on short-term foreign capital in peso-denominated TES bonds and also try to secure financing for 2009, 2010 and 2011 with the help of the IMF and the World Bank. "This global economic crisis is a great concern ... the threat to loss of liquidity, the threat to sources of financing, that banks say no to loans," Uribe told reporters during a news conference at the presidential palace. Uribe, who had earlier confirmed the end to the capital limits to Reuters,... [read full story]
