Powerful earthquake in Colombia costs the country billions

Colombia faces billions in economic losses following a devastating earthquake that struck on August 10, marking the country's most powerful seismic event in nearly half a century. President Abelardo de la Espriella announced a preliminary estimate of $9.57 billion in economic damages, equivalent to approximately 62 billion Danish kroner.

The magnitude 7.4 earthquake, which hit the western part of the country, has claimed 289 lives, with 143 people still missing. A total of 4,187 individuals sustained injuries. The disaster also left a trail of destruction, with nearly 27,000 homes destroyed, forcing thousands to seek shelter in streets and public parks. Critical infrastructure, including hospitals and schools, suffered significant damage or collapsed entirely.

This crisis presents a formidable challenge for President de la Espriella, who assumed office just three days before the earthquake. The right-wing president, elected on a platform to combat drug-trafficking rebels, is now focused on recovery efforts. He has tasked his housing minister with initiating a "miraculous reconstruction plan" supported by the private sector.

In his efforts to mitigate the economic fallout, de la Espriella has appealed to the United States for support. He requested a temporary suspension of U.S. tariffs on Colombian goods to provide economic relief. This plea follows a recent increase in U.S. import tariffs on Colombian products, which rose from 10% to 12.5% on July 24, although certain items like coffee and oil remain exempt. De la Espriella, who had promised a close relationship with the U.S. during his presidential campaign, is banking on international cooperation to help rebuild the nation.