This case series is intended for use in courses covering the political economy and the process of economic reform (see also the B case, UVA-BP-0412). It transports students to the tumultuous shores of Colombia. Students must grapple with the paradox that the Colombian economy was a shining star in Latin America according to a number of measures although the country was perched on an unstable political foundation. The (A) case permits an examination of the economic reform process in a Latin American context. By the mid-1990s, economic reforms transitioned the Colombian economy from being inwardly focused to being integrated into the global economy, the so-called Apertura Economica. The macroeconomic, microeconomic, and institutional reforms toward this end are examined in detail. The relative economic stability analyzed in the (A) case gives way to economic hardship in the (B) case when the unstable political situation surges to the fore. The social strife caused by interest groups that have perpetuated civil war and relied on the drug trade to finance their positions becomes a formidable challenge by the close of the 20th century.