LatinNews Daily - 04 June 2021

In brief: Think-tank estimates economic toll of Colombia’s protests

* Roadblocks erected amid the ongoing anti-government protests in Colombia have cost the economy between Col$4.8trn (US$1.31bn) and Col$6.1trn, according to a study by the Fundación para la Educación Superior y el Desarrollo (Fedesarrollo) think-tank. Fedesarrollo’s calculation was based on the impact of the 45-day lorry driver strike in 2016, which caused significant declines in economic output and energy demand. According to Fedesarrollo, the current protests have had a 150% greater negative impact on the economy, given the wider range of sectors where output has been reduced because of the unavailability of supplies due to the barricades erected on key transport routes. According to Fedesarrollo, 80% of the economic costs of the strike have been borne by the agricultural, trade, and industrial sectors, but effects are also being felt in the mining, and the energy sectors, and, to a lesser extent, in professional services.

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