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Colombia Colombia's persistently sound financial insurance policies and aggressive promotion of free trade agreements in recent times have bolstered its potential to face external shocks. Nevertheless, Colombia relies upon closely on oil exports, making it susceptible to a drop in oil prices. Exports account for approximately one-third of GDP, with commodities making up some three-quarters of complete exports. With few pure assets, Belgium imports substantial portions of uncooked supplies and exports a large quantity of manufactures, making its economic system susceptible to volatility in world markets. Cook Islands Like many other South Pacific island nations, the Cook Islands' financial growth is hindered by the isolation of the country from overseas markets, the limited dimension of home markets, lack of natural resources, periodic devastation from natural disasters, and inadequate infrastructure. Sugarcane is still a major export for this territory. In July 2012, as a result of reforms undertaken by President THEIN SEIN and his nominally civilian government, the US broadly eased restrictions on new investment in and the export of monetary companies to Burma. Denis SASSOU-Nguesso, who returned to energy when the conflict ended in October 1997, publicly expressed interest in shifting forward on financial reforms and privatization and in renewing cooperation with international financial establishments. The IMF is pressing for extra reforms, including increased funds transparency, privatization, and poverty reduction applications. The Paris Club and bilateral creditors have eased the external debt state of affairs with Benin benefiting from a G-eight debt reduction introduced in July 2005, while urgent for extra speedy structural reforms.
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