Editorial

Latest EcoAnalytica/Guarumo Poll: Two-Thirds of Colombians Fed-Up with Strikes, Blockades, Rioters

Medellin Herald May 30, 2021

The latest, just-released EcoAnalytica/Guarumo national poll of voting-age Colombians shows that people here are overwhelmingly fed-up with the month-long series of strikes, road blockades, violence, arson attacks, attempted (and actual) murders and attacks on police, and economic devastation

Companies

EPM Board Votes to Sell its Stake in ‘UNE’ Telecom/Internet Venture

Medellin Herald May 26, 2021

Medellin-based utilities giant EPM announced last night (May 25) that its board of directors just voted to start the process of selling its minority stake in the “UNE-EPM” telecom-internet-cable TV company and the related “Inversiones Telco” company. UNE-EPM is a partnership between EPM and Spain-based multinational telecom provider Millicom. According to EPM, proceeds

Other Norms

Antioquia Continues Midnight-to-5-am Curfews to June 1, but ‘Pico y Cedula’ Abolished

Medellin Herald May 25, 2021

Antioquia Acting Governor Luis Fernando Suarez announced last night (May 24) that while midnight-to-5-am curfews and booze bans continue from today through June 1 (into early June 2), “pico y cedula” shopping restrictions are now lifted. However, mandatory mask wearing, social distancing and strict public/private health protocols will continue as long as the Covid-19

Colombian economy

Colombia’s ‘Timely, Well-Coordinated Response’ to Covid-19 Wins IMF Kudos

Medellin Herald May 24, 2021

The International Monetary Fund (IMF) on March 23 issued a detailed economic/social report finding that the Colombian government is responding wisely to the Covid-19 crisis. “Colombia has been hit hard by the pandemic, but the policy response has been timely and well-coordinated,” according to the IMF official report. “Covid-19 has taken a severe social and […]

General News

Expats Rank Colombia 11th-Best Among 59 Nations in Living-Working Survey

Medellin Herald May 18, 2021

The latest InterNations global survey of the “best and worst” nations for living and working abroad finds that Colombia ranks 11th out of 59. Colombia’s highest rating (third overall) is in the “personal finance index” but its worst ranking (38th overall) is in the “working abroad index,” according to InterNations. “With more than 12,000 respondents, […]

Other Norms

Metro Medellin, Antioquia Continue Covid-19 Restrictions to May 24

Medellin Herald May 17, 2021

Antioquia Acting Governor Luis Fernando Suárez announced late this afternoon (May 17) that the current shopping and curfew restrictions aiming to hobble Covid-19 infections will continue for another week — until at least 5-am Monday, May 24. Curfews and booze-sales-bans will continue daily from 10-pm to 5-am, while “pico y cedula” shopping restrictions will continue

Companies

Grupo Sura Posts COP$211 Billion Profit in 1Q 2021, Big Reversal from Net Loss in 1Q 2020

Medellin Herald May 15, 2021

Medellin-based multinational insurance, health-care and financial services giant Grupo Sura announced May 14 a COP$211 billion (US$57 million) net profit for first quarter (1Q) 2021, compared to a COP$76 billion (US$20.6 million) net loss in 1Q 2020. The big change “was mainly the result of the devaluation of the markets in the region” last year, […]

Companies

Construcciones El Condor Posts Net Loss for 1Q 2021, but Contract Resolution Could Result in Net Gain

Medellin Herald May 15, 2021

Medellin-based highway construction giant Construcciones El Condor on May 14 announced a COP$51 billion (US$13.8 million) consolidated net loss for first quarter (1Q) 2021 – but the loss could be reversed in a contract-dispute resolution proceeding. “The loss is generated by the negative results reported by the Vías de las Américas Concession for a value […]

Colombian economy

Colombia GDP Rebound Finally Enters Positive Economic Territory

Medellin Herald May 15, 2021

Colombia’s national economic statistics agency DANE revealed May 14 that gross domestic product (PIB in Spanish initials) has finally moved into positive territory for first quarter (1Q) 2021, following a year-long Covid-19 crisis. Since the collapse in second quarter (2Q) 2020 — when PIB bottomed-out at a negative 15.7% — Colombia has since steadily rebounded

Companies

Grupo Argos 1Q 2021 Net Income Skyrockets 622%

Medellin Herald May 14, 2021

Medellin-based cement, electric power and airport/highway concessionaire Grupo Argos announced May 13 that its first quarter (1Q) 2021 net income jumped 622% year-on-year, to COP$190.5 billion (US$51.7 million). Argos credited the boost “mainly due to the increase in sales, our operating leverage and a decrease in financial expenses.” Consolidated revenues rose 3.2%