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Earthquake to cost Colombia US$9.6b in economic losses

Greta W. by Greta W.
18 August 2026
in News, World
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The economic losses from the powerful earthquake that struck ⁠Colombia last week are expected to reach 30 trillion pesos, or US$9.6 billion, the country’s president said.

Abelardo De La Espriella said the impact included roughly 24.5 trillion pesos in buildings and 5.5 trillion pesos in infrastructure.

“Just imagine the scale of the ⁠disaster,” De La Espriella said, noting that ⁠the figures were likely ⁠to change. “This is a preliminary figure that will be adjusted as we obtain ⁠more information and as the damage caused by this earthquake is assessed in each of the regions.”

The 7.4-magnitude quake toppled buildings in various parts of western Colombia, ⁠including the major cities of Cali and Pereira, killing 280 people, injuring more than 4,000, and leaving another 143 people missing.

More than two-thirds of the reported deaths were concentrated in Cali and Pereira, where apartment buildings, homes, churches, schools and hospitals were damaged or destroyed

By comparison, the earthquakes that struck neighbouring Venezuela on June 24 caused damage to housing and infrastructure estimated at US$37 billion, according to an initial assessment by ⁠the United Nations Office for Disaster Risk Reduction published last month.

The Colombia quake is the first major crisis facing De La Espriella, who took office just days before and now must oversee relief and reconstruction efforts.

Meanwhile, Colombians gathered for mass in Pereira on Monday to pray for the victims of the earthquake.

Worshippers knelt in prayer and observed a minute of silence in honour of those killed in Colombia’s coffee-growing region.

A candlelight vigil in memory of the victims was also held in Cali. (Reuters)

Tags: World
Greta W.

Greta W.

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