President Abelardo de la Espriella Declares Economic Emergency Following Major Earthquake

President Abelardo de la Espriella has issued Decree 1261 of 2026, declaring a state of economic emergency in 15 Colombian departments following a magnitude 7.4 earthquake that struck on August 10. The emergency measure is initially set for 30 days, though it can be extended up to 90 days. According to the National Unit for Disaster Risk Management (Ungrd), the disaster has resulted in 319 deaths and 250 missing persons, with over 280,000 people affected. Initial estimates suggest losses of 30 trillion pesos, which is approximately 1.5 percent of the national GDP.

The decree serves as a framework for upcoming specific measures. Proposed actions include expanding the Obras por Impuestos program for reconstruction, allowing the Society of Special Assets (SAE) to sell certain assets more quickly to fund emergency efforts, and permitting savings and credit cooperatives to serve non members in rural areas. The government also plans to allow families to receive the Family Housing Subsidy more than once and provide temporary aid to micro and small businesses to cover salaries. Additionally, the administration intends to reorient unexecuted resources from the Department of Social Prosperity (DPS) toward earthquake relief.

Specific focus has been placed on the justice system, as the earthquake damaged courthouses, notary offices, and prisons. The government plans to create an emergency fund for the physical reconstruction of judicial offices and implement a regionalization plan for prison infrastructure. To support the affected population, the Ministry of Finance has postponed income tax payments in several affected zones.

Political reactions to the decree vary. A center right outlet highlighted warnings from opposition leader Ivan Cepeda, who urged the president to protect vulnerable populations and prepare for the El Nino phenomenon. Meanwhile, center left coverage emphasized the government's strategy for restoring judicial services and protecting prisoners. A center outlet noted that while the emergency declaration favors a personalist leader, the long term reconstruction will depend on the strength of state institutions.