Economic losses from protests in Colombia range from Co$6 trillion ($1.6 billion) to Co$10 trillion ($2.7 billion), finance minister José Manuel Restrepo said. Trade, freight transport and agriculture are the sectors most affected. The damage will result, according to the official, in a slowdown of the expected growth in these months. The consensus among businessmen is that the blow to employment will be hard, because many sectors will take up to a year and a half to recover.
The Colombian Committee of Steel Producers of Andi, formed by Acerías Paz del Río, Gerdau Diaco, Grupo Siderúrgico Reyna, Sidoc and Ternium, companies that represent the totality of the national steel production, reported that due to the blockades on the roads in the framework of the National Strike, 45,000 direct and indirect jobs are at risk. The steel industry has already reported losses of Co$248 billion ($66.2 million).
Colombian coal mine Cerrejon will halt operations because of two blockades that have prevented from it bringing in supplies of gasoline, it said on Sunday, the latest trouble for the major miner. Cerrejon, jointly owned by BHP Group, Anglo American Plc and Glencore Plc, has had repeated disagreements with nearby Wayuu indigenous communities and its largest union, which held a three-month strike last year.
BBVA, Bancolombia, Banco de Bogotá, Davivienda and other financing companies offer lower rates for sustainable housing and electric cars. In the case of sustainable housing, they offer significant reductions in interest rates that can range from 65 to 200 basis points. In the case of electric vehicles, interest rate reductions can be more than 400 basis points below traditional rates.