Colombia faces reconstruction with 96% of the year's debt quota already used

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Colombian President Abelardo de la Espriella declared an economic emergency following a magnitude 7.4 earthquake, with 96% of the year's debt quota already committed. The fiscal strain poses challenges for financing reconstruction efforts in the affected western region.

Colombian President Abelardo de la Espriella declared an economic emergency on Wednesday to address the consequences of Monday's magnitude 7.4 earthquake in the west of the country, against a backdrop of fiscal constraints that will shape how reconstruction is financed.