Between March and October 2020, households have lost a total of $ 7.9 billion, or about 3% of GDP, according to the Center for Economic Studies (Anif) in its most recent economic report. Recently, statistics agency Dane released the labor market figures for October. The Unemployment Rate was 14.7%, 4.8 percentage points higher YoY, and the average of the first ten months of 2020 is 16.6%.
Peru is currently assessing a new tariff on apparel imports, which could impose a consolidated duty of 35% on all confections for up to four years, renewable. Such a tariff would affect more than 280 Colombian companies that have traditionally exported to that country and that, according to customs agency DIAN data, have moved about $ 115 million between 2017 and 2020. Colombia is the fourth origin of apparel imports in Peru, after China, Bangladesh and India. In 2019, $41 million was exported to Peru.
The Center for Studies on Economic Development of the Universidad de los Andes published a study showing that the internal armed conflict decreased the tax revenues of the municipalities and affected areas by an average of 10.3%, and a drop of 2.8 percentage points in their ratio of taxes on total income.
Russia (17%), Venezuela (12%) and Colombia (11%) together make up for 41% of the total volume of exchanges on the LocalBitcoins platform. Venezuela and Colombia occupy the second and third place as the countries with the highest volume of Bitcoin transactions, accounting for more than 23% of the total operations. Venezuela has more than 13,000 active users who weekly trade between 4 to 5 million dollars in Bitcoin, while Colombia moves around 3 and 5 million dollars in Bitcoin in the same period. The main markets are Russia (17.4%), Venezuela (12.3%) and Colombia (11.3%), with 41% of the global volume among these three.
PharmaCielo Colombia, cultivator and producer of medicinal-grade cannabis extracts, has received a $2.3 million loan, with term and revolving components from Banco Agrario de Colombia S.A. Banco Agrario is a Colombian state-owned entity focused on providing funding to support specific sectors and projects across the country, with one of its primary focuses being the agro-industrial sector. The Loan has a term of 84 months and will bear interest at a rate of 10.14% per annum, subject to a capital amortization grace period of up to 24-months. The Loan is secured against part of the Company's La Margarita property, which comprises less than 25% of the Company's total assets.