Colombian businesses on Tuesday called on the government to expand measures to help companies weather coronavirus, after President Ivan Duque ...
Colombian businesses on Tuesday called on the government to expand measures to help companies weather coronavirus, after President Ivan Duque extended a nationwide lockdown by two weeks.
Additional quarantine until April 27 will save lives, Duque said on Monday, but businesses say many could face bankruptcy and increased unemployment.The government has promised credit guarantees of up to 12 trillion pesos for small and medium-sized companies. The one to three-year credits will have a payment grace period of 4 months.But the business community says the measures are insufficient to keep people employed during the shutdown, adding cash flow for many will last for about two months.
The top sectors affected by the lockdown are restaurants, stores, tourism, airlines and factories that do not make food or health-related items. The extended quarantine could have grave and nearly irreversible economic impacts, economic thinktank ANIF said in a report.
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