Advanced Search

LatinNews Regional Monitor: Andean Group - 27 June 2019

In brief: Colombia

* Colombia’s President Iván Duque has announced a package of 67 measures, worth over Col$1.2trn (US$376.72m), to tackle the effects of the closure of the Vía al Llano highway which links the capital Bogotá with Villavicencio, the capital of Meta department. The road was closed indefinitely earlier this month following weeks of heavy rains that caused landslides. The announced measures include an extra Col$200bn credit line from the state-owned Bancóldex bank, and a 50% reduction in the toll rates for alternative roads between Bogotá and Villavicencio to facilitate cargo transportation and passenger flow. Duque also announced that the national tax authority (Dian) will be asked to speed up VAT refunds to businesses and producers in the region.