Jose Camacho Lorenzana, 79, the alternate Colombian ambassador to the Organization of American States since 1968 and a former official of the World Bank, died Tuesday at George Washington University Hospital. He had pneumonia.

Ambassador Camacho was born in Bogota, Colombia. He was a newspaperman and stock broker there before joining the Colombian diplomatic service in the late 1930s. He served in Argentina and France and was assigned to the Colombian Embassy here in 1940. He spent the rest of his life in Washington.

In 1950, after 10 years as first secretary of the Colombian Embassy, he joined the World Bank. In 1960, he returned to the embassy as minister counselor. He continued to work at the bank as the alternate executive director for Colombia until 1970 and in this capacity represented his government at numerous international conferences.

In 1968, he was appointed alternate ambassador to the OAS from Colombia and held that post until his death. The Colombian government conferred on him the Order of San Carlos.

Ambassador Camacho's survivors include his wife, Agnes, of Washington, and three sisters, Maria Luisa Camacho de Arbelaez, Josefita Camacho and Lucrecia Camacho de Lloreda, all of Bogota.

The family suggests that expressions of sympathy be in the form of contributions to a charity of one's choice.