President Abelardo de la Espriella signs economic emergency decree to address the aftermath of the August 10 earthquake.

President Abelardo de la Espriella met with 18 ministers to sign a decree of economic emergency following a magnitude 7.4 earthquake that struck Colombia on August 10. The administration announced that the decree aims to provide concrete solutions and maximum effectiveness in responding to the needs of the country. During the meeting, President Abelardo de la Espriella noted that while the country faces a difficult fiscal reality, the decree will allow for the immediate effects of the tragedy to be addressed through state instruments and expanded appropriations. To manage costs, the administration announced that it will review and reduce expenses from previous programs that are not priorities. Minister of Housing, City and Territory Jaime Andrés Beltrán Martínez highlighted a three-phase reconstruction plan. The first phase, focusing on initial first aid and diagnostic work, is expected to be completed by September 30. The second phase, beginning in October 2026, will focus on housing improvements and subsidies. The final phase, spanning two to four years, will involve full reconstruction. The government estimates that the total reconstruction cost will reach 2.16% of the GDP over five to six years.

Sources

• El Espectador
  Así fue el primer consejo de ministros de De la Espriella en el Palacio de San Carlos
• El Espectador
  De la Espriella consolidó ruta de atención por terremoto: lideró primer consejo de ministros
• Portafolio.co
  Exministro que propuso 'Plan Marshall criollo' ahora propone impuestos transitorios para la reconstrucción
• Minvivienda
  Todos ponen, estrategia para la reconstrucción de la Patria Milagro
• El Colombiano
  Reconstrucción de las zonas afectadas por terremoto necesitará casi seis años | El Colombiano