IBOV 171,031.73 ▲ 1.85% IPSA 11,338.38 ▲ 0.89% IPC MEX 65,729.18 ▲ 2.14% MERVAL 2,913,184 ▲ 1.30% COLCAP 2,459.23 ▲ 0.61% BVL PERÚ 58,698.13 ▲ 2.60% USD/BRL5.14▼ 0.14% USD/MXN16.95▲ 0.30% USD/CLP914.28— 0.00% USD/COP3,038▼ 1.18% USD/PEN3.35▼ 0.06% USD/ARS1,499▲ 0.12% USD/UYU40.20▲ 1.58% USD/PYG5,996▲ 1.55% USD/BOB11.43▲ 0.41% USD/DOP58.82▲ 0.20% USD/CRC450.05▲ 3.34% USD/GTQ7.62▲ 2.21% USD/HNL26.81▲ 0.31% USD/NIO36.62▲ 0.61% USD/VES778.00▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71▲ 0.79% EUR/BRL6.00▼ 0.64% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 171,031.73 ▲ 1.85% IPSA 11,338.38 ▲ 0.89% IPC MEX 65,729.18 ▲ 2.14% MERVAL 2,913,184 ▲ 1.30% COLCAP 2,459.23 ▲ 0.61% BVL PERÚ 58,698.13 ▲ 2.60% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Colombia Latin America

Colombia bets to reopen the economy in the midst of the worst moment of the pandemic

By · June 8, 2021 · 4 min read

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RIO DE JANEIRO, BRAZIL – In a risky bid to revive the economy in the midst of the worst peak of covid-19, Bogota and Medellin, among other Colombian cities, are lifting restrictions on Tuesday on sectors closed since the beginning of the pandemic, such as nightlife and sporting events with a public presence.

After the two most lethal months of the pandemic and a first week of June, where the figures are not getting any better, with more than 500 cases per day and record highs of new infections, the country accumulates 3,593,016 infections and 92,496 deaths due to covid-19.

Colombia bets to reopen the economy in the midst of the worst moment of the pandemic
Colombia bets to reopen the economy in the midst of the worst moment of the pandemic. (Photo internet reproduction)
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The Ministry of Health approved a decree allowing the “reactivation” from June 1, where it provided the basis for an accelerated and safe activation of the economy to stimulate the generation of employment, one of the factors that can mitigate the poverty in which the country is immersed and which has caused protests throughout the country since last April 28.

JOY OF BUSINESSMEN

“Now we can open at our normal hours,” said Gigliola Aycardi, founding partner of the Bodytech gym chain.

The executive was confident that in “August we could already return to 2019 numbers. 2020 was a tough year. Sales in 2020 were only 30%, we expect to be at one hundred percent in the second half of the year”.

Along with greater freedom of opening hours for establishments, the measure will also give air above all to nightlife since the curfew is dispensed with. The dry law for bars and restaurants is lifted and sets the conditions for holding cultural and sporting events and reopening nightclubs.

Thus, 10,000 people will have access to the South American qualifying match between Colombia and Argentina, in the Caribbean city of Barranquilla, chosen by the authorities to pilot the reopening given the favorable sanitary conditions.

BOGOTÁ OPEN

Even though Bogotá is the main focus of the pandemic and exceeded a few days ago the million accumulated cases, the Mayor’s Office considers it necessary to open the economy because the need to generate employment is “pressing”.

“We lifted the curfew, the dry law, there are no restrictions for most sectors except gastrobars that will go until 1 am,” said the district secretary of Economic Development of Bogota, Carolina Duran.

However, the joy for the reopening is not total. She clarified that “there are still no nightclubs, there are still no big shows” and, in the case of soccer, it will continue but behind closed doors.

These sectors may only return to work until the city goes from red alert to yellow alert, below 85% occupancy in ICU beds, and the National Government will be asked to make pilots with these sectors.

BARRANQUILLA PIONEER, MEDELLIN JOINS IN

Barranquilla, which has already passed the worst of this peak, began last week the reopening of all economic sectors that, so far, had been restricted by the pandemic.

Public and private events are authorized, including concerts, mass, and sporting events, in addition to the reopening of nightclubs, always abiding by biosecurity standards: a maximum capacity of 25% of the capacity of the infrastructure where the event takes place, provided that the occupancy of ICU beds remains below 85%, otherwise, events exceeding 50 people will not be allowed.

Medellin also joined the reopening within a “new pact” for social and economic recovery, to return 15,000 jobs, that is, 50% of the jobs that were lost in the capital of Antioquia since the beginning of the pandemic.

“Today, we begin a process of safe reactivation. The curfews in Medellín are over,” said the mayor of Medellín, Daniel Quintero.

This reopening allows some 3,000 commercial establishments, including restaurants, gastrobars, and bars, to open without restrictions and mark the end of measures such as curfew, dry law, and “pico y cédula”.

The city, which has not yet overcome the critical phase that began in April due to the collapse of its hospital system, is preparing for the International Tango Festival, being held outdoors between June 24 and 30, while the Colombiamoda and Colombiatex fairs activate their catwalks and stand from July 27 to 29.

ALARMS IN THE SCIENTIFIC COMMUNITY

Despite the optimism of some, the scientific, academic, and medical community called on the Government to “delay” the reopening throughout the country.

In a communiqué, they stated that the “current moment is the least opportune to initiate an economic opening in the country” and that to do so, favorable epidemiological measures and conditions are necessary.

They allege that the country is suffering the impact of progressive growth of the third peak, with high rates of deaths and contagions, the collapse of the hospital network, and a shortage of oxygen and supplies.

“It is essential to implement comprehensive territorialized action strategies and health literacy programs and informative actions for communities and society, to mitigate the impact of the pandemic, including the commitment to accelerate vaccination massively”, they explain.

Vaccination is progressing smoothly in the country, and 11,733,523 vaccines have been applied, of which 3,471,207 correspond to second doses, that is, Colombia has 9.8% of the target population immunized with two doses and almost 33% with only one dose.

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