Colombia declares economic emergency to rebuild after earthquake
Colombia’s President Abelardo de la Espriella said he would declare an economic emergency and create a reconstruction fund for homes and small businesses that were destroyed in Monday’s earthquake. In a press statement, De la Espriella said that the government would initially support victims with temporary relief and will declare an economic emergency to find […] The post Colombia declares…
Colombian President Abelardo de la Espriella has declared an economic emergency after a devastating earthquake struck western parts of the country on Monday. The government aims to create a reconstruction fund to rebuild homes and small businesses damaged by the disaster.
Finance Minister Miguel Gomez stated that the government is currently not considering raising taxes to fund the reconstruction. Instead, they plan to prioritize relief for approximately 24,000 families whose homes or businesses were destroyed. This relief package includes the payment of public services, housing rent subsidies, tax and financial relief measures, economic support for vulnerable families, and assistance for merchants and small businesses affected by the earthquake.
To channel national and international contributions, President Espriella has announced the creation of a "Miracle Fund." This entity will direct funds towards the reconstruction of hospitals, educational centers, properties, roads, and airports damaged by the earthquake.
As part of the emergency decree, the president is granted three months to issue decrees related to the situation without Congressional approval. The legal validity of these decrees will be tested by the Constitutional Court. At the time of publication, the President's Office had not yet issued the first decree.
Written by urgent.news from Colombia Reports's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
