General News

Antioquia Governor Gaviria Charged with Corruption, Deposed; President Duque Names Temporary Replacement

Medellin Herald June 5, 2020

Colombia Attorney General Francisco Barbosa Delgado announced June 5 in a press conference that Antioquia Governor Aníbal Gaviria has been charged with alleged corrupt management of a highway construction contract during his first term as governor between 2004 and 2007. “The evidentiary

General News

Why Medellin Tops Colombia in Covid-19 Avoidance while Leading Economic Reopenings

Medellin Herald June 3, 2020

Colombia’s Health Ministry reported that as of June 2, 31,833 people had contracted Coronavirus nationally since tracking began four months ago — including 1,009 deaths and 11,142 recoveries so far. Bogota is by far the worst at 10,743 cases including 267 deaths, followed by Atlantico (4,550 cases); Cali/Valle del Cauca (3,714); Bolivar (3,364); Amazonas (1,852);

Other Norms

President Duque Details 43 Exemptions to Quarantine Starting June 1; International Flights Would Resume from September 1; Outdoor Exercise OK for Adults, Seniors

Medellin Herald May 29, 2020

Following a nationally televised address last night (May 28), Colombia President Ivan Duque signed “Decree 749” listing 43 industrial, commercial, educational and personal exemptions from the national Covid-19 quarantine starting June 1. In addition, Transport Minister Angela Orozco announced during the same televised address that international flights to and from Colombia

General News

Shopping Mall Tests with Contact Tracing ‘Very Positive,’ so More Medellin Malls to Reopen June 1

Medellin Herald May 28, 2020

The Medellin Mayor’s Office announced May 27 that a test reopening program at three shopping malls here confirms that Covid-19 biosafety compliance indeed is feasible — clearing the way for broader mall reopenings on June 1. “About 18,000 people [initially] participated in the pilot program to reopen shopping centers in Medellín” that started May 25, […]

General News

Medellin Mayor Unveils US$1.2 Billion, Four-Year ‘Eco-City’ Budget

Medellin Herald May 27, 2020

The Medellin Mayor’s Office on May 27 unveiled a COP$4.48 trillion (US$1.2 billion) “EcoCiudad” (Eco-City) “Medellín Futuro” four-year budget that includes environmental protection, education, recycling and expansion of zero-emissions transport. “The capital of Antioquia is committed to increasing protected areas, strategic ecosystems, restoring forest cover and

Companies

Conconcreto 1Q 2020 Profits Fall 34% Year-on-Year

Medellin Herald May 27, 2020

Medellin-based construction giant Constructora Conconcreto revealed in a May 26 filing with Colombia’s Superfinanciera oversight agency that its first quarter (1Q) 2020 net income fell 34% year-on-year, to COP$20 billion (US$5.3 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) also fell 16% year-on-year, to COP$44.7 billion (US$11.9

Infrastructure

EPM Reports 192 Cases of Covid-19 Among ‘Hidroituango’ Hydroelectric Project Workers

Medellin Herald May 27, 2020

EPM Social/Environmental Projects Director Ana Milena Joya Camacho revealed in a May 26 meeting with Antioquia departmental officials that 192 workers at the “Hidroituango” hydroelectric project have tested positive for Coronavirus. Because of this outbreak – first detected among 13 workers on May 12 — EPM not only has removed, isolated and ensured treatment of […]

Companies

Latam Joins Avianca in Chapter 11 Bankruptcy

Medellin Herald May 26, 2020

Chile-based Latam Airlines – second only to bankrupt Avianca in Colombian air transport dominance — announced May 26 that it filed for Chapter 11 bankruptcy in U.S. federal court. The Covid-19 crisis – banning most air traffic — forced Latam to absorb impossible losses, the company noted. For example: Colombia has banned all regular passenger […]

Companies

Peso Depreciation Against U.S. Dollar Causes EPM to Post 1Q 2020 Net Loss

Medellin Herald May 23, 2020

Medellin-based multinational utilities giant EPM on May 22 posted a COP$276 billion (US$73 million) net loss for first quarter (1Q) 2020 –solely because its debt accounting is in U.S. dollars, rather than in sharply-depreciating Colombian pesos. “Due to accounting standards and due to the depreciation of the Colombian peso, understanding the debt that the company

General News

Medellin Tests 3 Types of Liberated Shopping Malls Starting May 25

Medellin Herald May 22, 2020

Medellin Mayor Daniel Quintero announced May 22 via his Twitter account that three different types of malls will be opened to the public here — under strict biosafety protocols — starting Monday, May 25, as a run-up to the planned reopening of more malls starting June 1. According to the Mayor, the three shopping malls […]