Colombia Earthquake Causes $9.6B Loss
The earthquake that struck western Colombia on August 10th with a magnitude of 7.4 has resulted in over 300 deaths and the destruction of approximately 27,000 homes. It has also damaged many hospitals and schools, causing damages estimated at around $9.57 billion. The disaster has left more than 4,500 people injured and 426 missing, leaving many homeless, as rescue and removal of debris continue a week after the catastrophe. President Abelerardo de la Espriella expressed concern about the extent of the damages and launched a relief and reconstruction plan supported by construction companies and financial institutions. He also requested that the United States temporarily suspend customs duties to support the national economy.
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