De la Espriella Will Cut Spending Left by Petro Administration to Address Earthquake Crisis

President Abelardo de la Espriella signed an economic emergency decree on August 19, granting him extraordinary powers to tackle the crisis caused by the earthquake that struck Colombia on August 10. During a cabinet meeting, he made this announcement, accompanied by the entire ministerial cabinet and executives from major insurance companies.

The president emphasized the need for immediate resources and a forceful and exceptional response from the State, stating, "This situation requires immediate resources and a forceful and exceptional response from the State."

De la Espriella pledged to review and reduce expenses associated with programs from the previous Petro administration that are not a priority given the country's current needs. He also sought complementary sources of financing and warned that the most needy Colombians, such as the elderly, would not be affected. The priority would be to guarantee resources necessary to assist victims and rebuild affected regions.

He affirmed that the economic emergency would create fiscal space required by the tragedy and minimize its economic and social impact.

The president reported a meeting with the country's insurance sector, reassuring Colombians of calm and confidence. He highlighted the insurance companies' commitment to handling claims quickly and efficiently, emphasizing that they have been paying policies since the tragedy began. De la Espriella called for calm and responsibility, urging Colombians not to fall for disinformation.

He announced that priority would be given to socioeconomic strata 1, 2, and 3, and to social housing. He stressed that all policyholders would receive adequate, timely, and dignified attention, and that every Colombian would receive protection in one way or another from the State and the Government.