Colombia Earthquake May Cause $9.6B Losses

Last week, a 7.4 magnitude earthquake in Colombia caused approximately $9.58 billion in economic losses, destroying buildings and damaging infrastructure. The disaster resulted in 280 deaths and more than four thousand injuries, with 143 people still missing. President Iván Duque Espriú confirmed that damages will be subject to assessments, assuring that the initial figures will change as more data is gathered. This earthquake marks the first major crisis faced by Duque since taking office just days ago and necessitates extensive relief and reconstruction efforts.

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