🕒 Created

The National Association of Financial Institutions (Anif) proposes six measures to finance the reconstruction of Colombia's earthquake-stricken areas.

The National Association of Financial Institutions (Anif) proposed six measures to mobilize public and private resources to finance the reconstruction of areas affected by the 7.4-magnitude earthquake that struck western Colombia on August 10th. The earthquake, the strongest since 1979, resulted in direct economic losses of approximately 1.6% of the GDP, with costs estimated at $24.5 billion for buildings and $5.5 billion for infrastructure. Anif proposed several mechanisms to avoid permanent taxes while maintaining fiscal sustainability. Key measures include releasing $3.7 billion in projects lacking a Presupuestal Availability Certificate, prioritizing investment resources in the 2026 General Budget, and allocating $10.1 billion from the SGR collection. Additionally, the thinking center proposed expanding the 'Works by Taxes' mechanism to include cities like Pereira, Manizales, and Cali. The governor of Antioquia, Andrés Julián Rendón, also presented proposals to the president to utilize private enterprise for reconstruction, emphasizing that private companies offer more agile execution than the state during fiscal deficits.

Sources