Monday, May 10, 2021

Colombia to spend US$3.65 billion on coronavirus economic measures

Colombia will spend 14.8 trillion pesos (US$3.65 billion) on emergency measures to ease the economic fall-out from coronavirus, the government said on Wednesday, but will not take on debt to finance the spending.

The measures include additional payments to social welfare programs for families, young people and the elderly and an acceleration in a plan to return value added tax to the neediest Colombians, Finance Minister Alberto Carrasquilla, told journalists.

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The Colombian peso traded 4,044 for one US dollar on Wednesday, March 18.

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