Colombia's association of financial institutions Anifexpects the country's economy to grow by 2.5% in 2016 and 3.4% in 2017, La República reported April 11.

While the anticipated performance is a positive for theregion, it is a major slowdown from the 4.4% growth recorded in 2014, Anif said.

Colombia's economy will be aided by "the expectedrebound of the industry," although it faces a rise in macroeconomicchallenges for the next two years, Anif head Sergio Clavijo noted. Thecountercyclical capacity exhibited by central banks globally is also an issue,Anif said in its analysis.

Finally, Clavijo noted that the sector will have to adapt toincreasing energy prices, which pose a threat to the competitiveness needed toboost exports of Colombia's agricultural and manufacturing sectors, whichcontinue to fall.