Colombia Declares Economic Emergency to Fund Earthquake Recovery

Colombian President Abelardo de la Esprilla has signed a decree declaring a state of economic emergency, a move that allows his government to introduce temporary taxes without parliamentary approval to fund relief and reconstruction after last week's devastating earthquake.

The 7.4-magnitude quake, which struck on August 10, has impacted 15 departments and 471 municipalities. In an update on Wednesday, de la Esprilla reported that 262,154 people have been affected, representing 147,464 families, and that 314 people have lost their lives. Rescue efforts are reportedly still focused on finding 262 missing people.

The president described the measure as "essential," citing an "extraordinarily difficult fiscal situation, the most complex in our entire republican history." He noted that gross debt exceeds 60 percent of GDP and that the fiscal deficit continues to exert pressure on national finances.

De la Esprilla, who recently took office, has criticized his predecessor, Gustavo Petro, for leaving state coffers empty and a high fiscal deficit. He has promised an austere government and transparency in reconstruction work.

The decree was signed by the president and all cabinet ministers during a Council of Ministers meeting and will now be reviewed by the Constitutional Court. The president can issue further decrees containing specific measures to address the emergency.

De la Esprilla has also reached out to U.S. President Donald Trump, asking for a temporary suspension of tariffs on Colombian products to help businesses during the crisis. The U.S. has already offered $26.5 million in aid, including food, shelters, and health supplies. There has been no immediate response from the Trump administration to the tariff request.