$9.6 Billion Wipeout: Colombia's New President Reveals Staggering Earthquake Bill
President Abelardo De La Espriella says the magnitude-7.4 quake that killed 280 people has caused roughly $9.6 billion in damage — the first major crisis of his brand-new administration.
Colombian President Abelardo De La Espriella announced Tuesday that the devastating August 10 earthquake that flattened parts of the country's west has caused an estimated 30 trillion pesos — roughly $9.6 billion in economic losses, according to preliminary government figures. The magnitude-7.4 quake struck western Colombia and has killed at least 280 people, injured more than 4,000, and left 143 still missing.
Of the 30 trillion pesos in estimated damage, officials say 24.5 trillion pesos covers destroyed and damaged buildings — homes, churches, schools, hospitals — while another 5.5 trillion pesos accounts for wrecked roads, bridges and other infrastructure. Cali and Pereira were hit hardest, with more than two-thirds of the deaths concentrated in those two cities.
A Brutal First Test
The disaster lands squarely on the desk of a president barely into his term. De La Espriella took office just days before the quake struck, making the recovery effort the first major crisis of his administration. "Just imagine the scale of the disaster," he told reporters, according to a Reuters-sourced report, while stressing the loss estimate is preliminary and "will be adjusted as we obtain more information."
JUST IMAGINE THE SCALE OF THE DISASTER
For scale, the figure already puts Colombia's quake among the costliest natural disasters to hit Latin America in years — though still well short of the roughly $37 billion in damage Venezuela's 2024 earthquakes caused, a comparison Colombian officials have cited in briefings.
Search-and-rescue crews are still working through the rubble in hard-hit towns near the epicenter in Chocó department, and the Colombian government has appealed for international assistance to fund reconstruction. With 143 people still unaccounted for, officials say the death toll could still climb as recovery operations continue.
De La Espriella's government has not yet detailed how it plans to fund the rebuilding effort, though a formal reconstruction plan is expected in the coming weeks as the loss assessment is finalized.