LatinNews Regional Monitor: Andean Group - 07 May 2020

* Colombia’s President Iván Duque has announced a new round of economic protections for businesses affected by quarantine measures taken in response to the coronavirus (Covid-19) pandemic. After renewing the country’s state of emergency for another 30 days, Duque announced a Col$6trn (US$1.51bn) plan to subsidise three months’ worth of wage bills (up to 40% of minimum wage) for businesses whose revenues have decreased by 20% or more under quarantine, on the condition that they don’t lay off workers. The president further revealed that income tax payments for businesses will be delayed until the end of the year. Protections for individuals were more limited, although Luis Alberto Rodríguez, director of the national planning department, confirmed that ‘solidarity income’ payments, consisting of a Col$160,000 (US$40) subsidy to around 3m vulnerable families, would be renewed for another month.

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