The Colombian central bank's decision to unexpectedly increase its key lending rate in its monetary-policy meeting last month was triggered by concerns over inflation and a surge in credit, minutes from the meeting show.

Colombia's benchmark blue-chip index rose Thursday, pushed higher by gains in the country's largest oil firms, while the peso gained slightly against the dollar.

Colombia's coffee production in January fell 41% from a year earlier to 535,000 60-kg bags due to the continued effects of heavy rains on the crop, the country's coffee federation says.

Colombia may see as much as $16 billion in foreign direct investment this year, up from nearly $15 billion last year, Trade Minister Sergio Diaz-Granados says.

Colombian stocks rose Wednesday to their highest level since mid-September as higher global oil prices and modest gains in U.S. stock markets kept alive a two-week rally.

French oil major Total SA says it has agreed to sell assets in Colombia to Chinese state-run oil company Sinochem International Corp. for an undisclosed amount as part of a plan to focus on exploration in the Latin American country.

Colombia's surprise decision to raise the benchmark lending rate last month was a necessary move that Finance Minister Juan Carlos Echeverry likened to basic "central banking 101."

Colombia's benchmark blue-chip index rose Tuesday, pushed higher by gains in the country's largest oil firms, while the peso resumed its gains against the dollar.