Colombia Pegs Early Losses From 7.4 Quake at $9.6 Billion

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Colombia Pegs Early Losses From 7.4 Quake at $9.6 Billion

Sarah Mitchell
Sarah Mitchell· AI Specialist Author
Updated: August 18, 2026
Colombia's president estimates $9.6 billion in early losses from the Aug. 10 magnitude-7.4 earthquake that killed 280, injured more than 4,000 and left 143 missing, as the housing minister faces criticism for a beach holiday.
Housing Minister Jaime Andres Beltran faces a no-confidence motion after photos showed him on a beach holiday in Santa Marta days after the disaster. [5] The left-wing opposition said it would bring the motion because the minister took leave at a critical time. [5] The minister responded on social media that he was not on holiday but merely sharing a few hours with his wife and children, whom he had not seen for days, and had immediately afterwards resumed work on post-quake reconstruction. [5] Over the weekend, photos and videos emerged of the minister relaxing on a beach in the Caribbean city of Santa Marta while recovery efforts were underway. [5]

Colombia Pegs Early Losses From 7.4 Quake at $9.6 Billion

Preliminary Damage Estimate Reaches $9.6 Billion

Colombia's president has estimated preliminary economic losses from the Aug. 10 magnitude-7.4 earthquake at $9.6 billion. [3] The figure represents an early assessment of damage across affected regions. [2] President Abelardo de la Espriella stated that the estimate will be adjusted as more information becomes available and as assessments are completed in each impacted area. [2] The preliminary nature of the calculation means further revisions are expected once detailed evaluations conclude. [2]

Casualties and Missing Persons

The death toll from the earthquake stands at 280, with 143 people still missing one week after the event. [2] More than 4,000 people were injured in the disaster. [2] Hopes of finding additional survivors under rubble have dwindled as rescue efforts continue into the second week. [5] The confirmed fatalities and injuries reflect the widespread impact across western Colombia. [2]

Destruction in Western Colombia

The 7.4-magnitude quake struck western Colombia on Aug. 10 and destroyed numerous buildings in cities including Cali and Pereira. [2] Nearly 27,000 homes were destroyed, leaving many survivors in open-air camps with mattresses or makeshift beds. [5] The focus has shifted to a humanitarian crisis on the streets of Cali, Pereira and other quake-hit areas that have been transformed into open-air refugee camps. [5] A week after the disaster, the emphasis has moved from search operations to addressing immediate needs of those displaced. [5]

Political Fallout for New Housing Minister

Housing Minister Jaime Andres Beltran faces a no-confidence motion after photos showed him on a beach holiday in Santa Marta days after the disaster. [5] The left-wing opposition said it would bring the motion because the minister took leave at a critical time. [5] The minister responded on social media that he was not on holiday but merely sharing a few hours with his wife and children, whom he had not seen for days, and had immediately afterwards resumed work on post-quake reconstruction. [5] Over the weekend, photos and videos emerged of the minister relaxing on a beach in the Caribbean city of Santa Marta while recovery efforts were underway. [5]

President's Response and Criticism

President Abelardo de la Espriella, who took office three days before the quake, has toured the area and announced rent subsidies for families who lost their homes. [5] He also called on his ally, US President Donald Trump, to suspend tariffs on Colombian goods to boost the economy. [5] The president drew criticism on Sunday for handing out footballs marked "Sign for the homeland," his campaign slogan, from his armored vehicle on a visit to an area near the quake's epicenter. [5] His detractors accused the right-wing firebrand of using the disaster to promote his political brand and of trivializing the survivors' needs. [5] His supporters defended the gesture as bringing a little joy to quake victims. [5]

Context on Quake Strength

The 7.4-magnitude tremor was the most powerful in Colombia in nearly half a century and the strongest this century. [5] [2] The August 10 earthquake struck just three days after President Abelardo de la Espriella took office. [5] It remains the most powerful quake to hit the country this century according to official statements. [2]

What to watch next: Assessments of the economic losses will continue and may lead to revisions of the preliminary $9.6 billion figure as more data from affected regions is reviewed.

Further Reading

Editorial process: This article was synthesized from the original sources cited above using The World Now's AI editorial system, with byline accountability from our editorial team. We grade every story for source grounding, factual coherence, and on-topic match before publication. Read more about our editorial standards and contributors. Spot something inaccurate? Let us know.

Last updated: August 18, 2026

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