A Major Earthquake Challenges Colombia’s New Right-Wing President

Summary

Podcast Summary: Big Take — "A Major Earthquake Challenges Colombia’s New Right-Wing President"

Date: August 13, 2026
Host: David Gura (Bloomberg News)
Guests/Sources: Travis Waldron (Bloomberg), Oscar Medina (Bloomberg, Bogota)

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Overview

This episode of the Big Take examines how a devastating 7.4 magnitude earthquake in western Colombia has thrust the country's newly inaugurated right-wing president, Abelardo de la Esprilla, into crisis management just days into his first term. The discussion explores the immense humanitarian challenges, the impact on Colombia’s economy—especially its vital coffee industry—and the political and international ramifications as Colombia grapples with disaster while under new leadership. The hosts also contextualize Colombia’s shift to the right in the broader wave of conservative victories across Latin America.

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Key Discussion Points & Insights

1. Immediate Impact and Scale of the Earthquake

• Rescue and Relief Efforts
  • Earthquake struck western Colombia, devastating the Choco region, one of the country’s poorest states.
  • Hundreds dead, thousands injured or missing, many are sleeping outside due to destroyed homes.
  • Rescue efforts hampered by blocked roads, collapsed infrastructure, and poor communication channels.
  • Oscar Medina: "The problem is not just the physical damage." [01:55]
• Economic Consequences
  • Buenaventura port, crucial for exports, temporarily shut down.
  • Coffee exports—a major economic engine—halted, with billions potentially lost.
  • Reference to a 1999 quake that caused a 2.2% GDP hit, estimated at over $10 billion today.
  • Travis Waldron: "Exports are largely halted ... That could be something more than $10 billion." [04:23]

2. Political Upheaval: A Novice President Faces Crisis

• Abelardo de la Esprilla’s Background
  • Came to office as an outsider—a showman, commentator, and businessman with no previous public office.
  • Nicknamed "El Tigre," campaigned on ending traditional politics, restoring order, and using state force against armed groups.
  • Quote: "With the tiger’s claw, we’re gonna destroy the left." [05:08]
• First Challenge: Disaster Response vs. Austerity Agenda
  • Inaugurated days before the quake; his reform plans centered on deep spending cuts.
  • The disaster threatens to upend his pledge to shrink state spending and pursue fiscal austerity.
  • David Gura: "This national tragedy threatens to upend his plans for the country." [03:15]
• National Division
  • Election was extremely close; country remains polarized between left and right.
  • He controls Congress by a narrow, potentially unstable coalition.
  • Travis Waldron: "The difference was just less than 1 percentage point. So the country is very divided." [07:07]

3. Economic Challenges and State of Emergency

• Pre-existing Fiscal Issues
  • Colombia faced high interest rates, high inflation, and a soaring deficit projected at up to 8%.
  • Social programs: Hard to cut without backlash, especially with leftist opposition mobilizing quickly.
  • Roland Martin: "It's more difficult to do in practice than it is as a campaign pledge." [07:45]
• Economic Emergency Powers
  • President may declare a 30-day (extendable to 90) economic emergency, allowing decrees on taxes, spending, and even imposing curfews.
  • Constitutional Court can review and potentially block emergency powers.
  • Travis Waldron: "The president could set increases to the VAT or corporate taxes or would have authority to take on multilateral lending." [10:04]
  • Historical Note: Previous similar emergencies (1999, 2025) sometimes blocked by the courts. [10:47]

4. International Response and US-Colombia Relations

• U.S. Support
  • President Trump quickly pledged $1 billion security package plus $15.5 million in emergency aid.
  • Joint US-Colombia military operations authorized in the aftermath.
  • Quote: "The State Department is mobilizing critical life saving aid ..." [15:00]
• Trump's Embrace & Geopolitics
  • Trump endorsed de la Esprilla, seeing him as part of a "Don Roe Doctrine" aligning Latin American leaders with Washington.
  • Recent series of conservative victories in the region—Chile, Peru, Colombia.
  • Colombia seen as a renewed close US ally, pivot away from the left-wing Petro administration.
  • Roland Martin: "It's a much more Trump aligned approach." [16:07]

5. Latin America’s Conservative Wave

• Regional Dynamics
  • Security concerns, crime, and anti-incumbent sentiment fueling right-wing victories.
  • De la Esprilla inspired by El Salvador’s Nayib Bukele (tough on crime) and Argentina’s Javier Milei (fiscal authority).
  • Alignment with peers: Chile's José Antonio Kast, Ecuador’s Daniel Noboa.
  • Travis Waldron: "He's definitely going to be part of that right wing wave." [18:20]
• Public Perception
  • Despite alignment with the US, Trump is not overwhelmingly popular in the region, suggesting potential backlash domestically.

6. What Success Looks Like & Leadership Challenges

• Response & Political Flexibility
  • Effective, transparent, and responsive disaster relief is crucial for legitimacy.
  • Will need to soften his hardline anti-left politics to negotiate and unite the country.
  • Oscar Medina: "He needs to tone down his harsh stance ... he needs to negotiate with some different sectors." [19:11]
• Sustained Effort
  • Initial response is crucial, but long-term commitment to reconstruction—especially in neglected, poorer regions—will define his presidency.
  • Balancing fiscal discipline with the need for state expenditure on recovery and social safety nets.
  • Roland Martin: "There's a real challenge to sort of prove ... are you going to be here in five or six months when the buildings are being rebuilt and maybe they're not going as fast as they want." [20:04]

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Notable Quotes & Memorable Moments

• "The time for restoring order, authority and freedom has begun." — Abelardo de la Esprilla’s inauguration speech, referenced by David Gura [06:04]
• "He used to be like a political commentator, but he was controversial ... It's funny, El Tigre, I mean, like with the tiger's claw, we're gonna destroy the left." — Travis Waldron on de la Esprilla’s persona [05:08]
• "Exports are largely halted ... That could be something more than $10 billion." — Travis Waldron on the economic hit [04:23]
• "This is going to be the situation that really puts a microscope on those efforts." — Roland Martin on the stakes for the new government [20:04]

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Timestamps for Key Segments

• [01:39] — News break: Overview of the earthquake’s aftermath
• [02:10] — Challenges in rescue operations and relief delivery
• [03:15] — Earthquake’s challenge to the president’s agenda
• [04:23] — Coffee industry impact; economic cost estimates
• [05:08] — Abelardo de la Esprilla’s political background and “El Tigre”
• [07:07] — Election context: razor-thin victory, divided politics
• [08:55] — Tension between reform and emergency response
• [10:00] — Emergency decree powers explained
• [14:27] — U.S. aid and involvement post-quake
• [16:51] — Analysis: Latin America’s shift to the right
• [18:20] — Comparative analysis: Colombia among conservative-led countries
• [19:11] — What a successful response requires from de la Esprilla
• [20:04] — Long-term political and leadership challenges

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Conclusion

Colombia’s new right-wing president, Abelardo de la Esprilla, finds his first days in office dominated by one of the worst natural disasters in the nation's recent history. The stakes are enormous—not only for immediate relief and economic stability but also for the political legitimacy of an outsider leader who must shift from campaign rhetoric of austerity and confrontation to practical and inclusive governance. International backing, particularly from the US, will help, but ultimately, the resilience and unity De la Esprilla can foster at home will define his and Colombia’s path forward.

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For Further Information

• Read more at bloomberg.com/podcastoffer
• Follow "The Big Take" on your favorite podcast platform for daily updates.

Transcript

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Bloomberg Audio Studios Podcasts Radio News

[David Gura]

the race to find survivors of a 7.4 magnitude earthquake continues across western Colombia. Rescue workers called for silence as they picked through rubble, listening for signs of life. Hundreds of people are dead and thousands more are injured or missing.

[Travis Waldron]

The problem is not just the physical damage.

[David Gura]

Bloomberg's Oscar Medina is based in Bogota.

[Travis Waldron]

We don't really understand the magnitude of the impact because a lot of roads are blocked, there is no phone or

[David Gura]

Internet signal, oscar says. Rescue efforts have varied from one state to another, and they've been complicated by difficult terrain, limited power and Internet infrastructure, years of poverty and civil conflict in the hardest hit areas. Choco, the epicenter of the quake, is one of the poorest states in the country.

[Travis Waldron]

Some people have to sleep outside their homes because their houses are destroyed. So that's a challenge for the government because they have to find ways to finance food, shelter, rescue, temporary housing.

[David Gura]

The task of overseeing all of that falls to Colombia's president, Abelardo de la Esprilla Someone who hadn't held public office before. The earthquake happened just after he was inaugurated.

[Roland Martin]

I mean, Monday was the first business day of his presidency.

[David Gura]

Travis Waldron helps edit Bloomberg's coverage of Latin America from brasilia.

[Roland Martin]

And at 7:30 in the morning, there's this massive earthquake that demands all of his attention.

[David Gura]

De la Esprilla, a right wing candidate who ran on an austerity platform, had promised to cut as much as 40% of Colombia's budget, which. But this national tragedy threatens to upend his plans for the country.

[Roland Martin]

There's a real chance for substantial impact here and, you know, we'll have to see in the coming days what it proves to be.

[David Gura]

I'm David Gura and this is the big take from Bloomberg News today on the show, Columbia grapples with the fallout from a major disaster during its new president's first week on the job. When a massive earthquake struck Colombia on Monday. It hit one of the country's main economic engines, one of its lucrative coffee growing regions. It's a multi billion dollar industry which exports roughly a million 60 kilogram bags of coffee every month. Bloomberg's Oscar Medina says the earthquake caused significant damage and shut down the Buenaventura port. It started restoring some of its operations. On Thursday, we spoke to the head

[Travis Waldron]

of a coffee exporter organization that said that actually exports are largely halted. So we don't have estimates yet about the economic costs. But in 1999, there was a similar earthquake. That earthquake had an economic impact of 2.2 percentage points of GDP. So if we bring that to today's prices, that could be something more than $10 billion.

[David Gura]

And Oscar, if that wasn't complicated enough, Colombia has this new president who is now in charge of overseeing the rescue and recovery efforts. What's his background?

[Travis Waldron]

Was a trial lawyer. He was a businessman. And nobody thought he was going to, he was going to make it to the presidency because he's an outsider in Colombian politics. He hasn't any public office. I mean, he's a showman. He used to be like a political commentator, but he was controversial. One of the most interesting things of the campaign, he saw himself as the tiger. It's funny, El Tigre, I mean, like with the tiger's claw, we're gonna destroy the left. And when he won and he beat the ally of former President Gustavo Petro, who was very strong at the moment, that was a complete surprise. And he pledged to break ties of traditional politics and political parties.

[David Gura]

During his inauguration address, he said, quote, the time for restoring order, authority and freedom has begun. What did he mean by that?

[Travis Waldron]

Former President Petro had a policy of negotiating with armed groups so you wouldn't see like large military operations against criminal groups or guerrilla organizations. And that was one of the biggest promises of President Lasprea, that he was going to end those peace processes and would use the force of the state. And actually on Monday, there were some news about some camps of an illegal group, the eln, that's Colombia's oldest guerrilla. It was bombed by the army. So that's his top line on security.

[David Gura]

You mentioned Colombia's former president, Gustavo Petro. He was a left wing president. How big a shift has this been from Petro to De la Esprila?

[Travis Waldron]

De la Spriella's victory was very narrow. None of the candidates even got to 50%. The difference was just like less than 1 percentage point. So the country is very divided. He managed to create an alliance with traditional political parties to create a majority in both the Senate and the lower house. But while he has a majority in Congress today, it's not undisputed.

[David Gura]

Travis, I want to turn back to Colombia's economy. What kind of economic challenges did this new president inherit before this earthquake struck?

[Roland Martin]

Well, the economy itself, it depends heavily on what happens with the coffee industry in this area, I think. And then Colombia is already facing steep fiscal challenges and budgetary concerns. It's high interest rates, high inflation. When Petro left office, he estimated the fiscal deficit for the coming year at around 5%. The incoming finance minister says it's closer to 8%, which in nominal terms would put it among the highest in the region. And I believe in the world. And of course, in a country like Colombia, as with anywhere, you can say you're going to slash spending. But when it comes to social benefits, popular programs, it's more difficult to do in practice than it is as a campaign pledge. And the left remains pretty forceful. And on the day of the new leaders inauguration was already organizing protests. And it's kind of ready to pounce on any mistake you're getting at.

[David Gura]

What's really kind of the central tension here, this new president's appetite for reform. And then this tragedy happening so soon in his tenure, how much has it upended his ability to implement these reforms, his appetite for implementing these reforms?

[Roland Martin]

I think that's still to be determined. And so it's going to take some time to really understand the level of damage and what will be necessary to foster recovery here. They've also declared or announced intentions to declare an economic emergency, which would give him some leeway to issue decrees on taxes or spending without congressional approval related to the earthquake. But that sort of cuts against what his plans were, right? I mean, his plans were to come in and do a big fiscal package. And to the extent that he was going to bolster the state was on the front of the fight against armed rebel groups that have, you know, seized some new territories in more remote parts of Colombia. So it, that it's obviously going to be a huge complication for his plan. You know, there could be a rally around the flag effect that that helps him. But of course, any misstep, any perception that he's not handling the recovery well could put him off on the wrong foot really quickly.

[David Gura]

Oscar, what does that economic state of emergency that Travis mentioned allow the president to do and what are the limitations on that?

[Travis Waldron]

A declaration of economic emergency gives the president the right to pass legislation for 30 days. That's especially to pass taxes and raise revenue as fast as they can. So while the finance minister said they wouldn't raise taxes, the president could set increases to the VAT or corporate taxes or would have authority to take on multilateral lending. I mean, it's a very powerful tool. He could declare curfews in cities. It's going to be for 30 days. That could be extended up to 90 days.

[Roland Martin]

There has been the use of this sort of economic emergency in the past in 1999 after an earthquake. So there is leeway to do it, but it would depend on the scope of how it's issued and what he tries to do under it. The Colombian Constitutional Court has the ability to review both the order itself and any decrees that he issues under it. We saw Gustavo Petro tried to declare an economic emergency late last year after Congress blocked a series of tax increases that he wanted to impose in a bid to get the fiscal situation a little bit under control. And the court ultimately blocked that decree, saying he didn't have the authority to do it.

[David Gura]

After the break, Bloomberg's Travis Waldron and Oscar Medina on what success might look like for Colombia's new president and how he fits into the right wing wave sweeping across Latin America.

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[David Gura]

There was no love lost between Colombia's previous president, Gustavo Petro, and President Trump. But Trump embraced President de la Esprilla pretty fast. Hours after he was sworn in, the US Pledged a billion dollars to Colombia as part of a security package. And after the earthquake, the US offered more money, $15.5 million in emergency aid. Then on Wednesday, to offer my sympathy to the people of Colombia, Secretary of Defense Pete Hegseth said Colombia had authorized joint military operations with the US and the Department of War with the State

[Roland Martin]

Department is mobilizing critical life saving aid to support the Colombian government's robust response to this tragic event, just as we

[David Gura]

did in Venezuela a few weeks ago. Travis, how big a supporter does this new president have in President Trump?

[Roland Martin]

Obviously, Donald Trump was a supporter ahead of the election. He endorsed de la Esprilla kind of as his part of his Don Roe Doctrine and he has had successes there. There has been a series of victories for conservative presidents who are definitely more friendly to Washington in the last year or so. Chile, Peru and now Colombia, all in the last eight or nine months. The relationship between Donald Trump and other leaders, there's always a bit of a give and take aspect to it.

[David Gura]

Not to be too cynical here, but I think going back and looking at the relationship between the US And Colombia, it was regarded in the US As a very close ally for a long time. Obviously that changed when President Petro was the president. What does President Trump want, do you think, from Colombia going forward?

[Roland Martin]

I think the main front is going to be on security because Petro had a plan for total peace with the armed groups in which he was prioritizing negotiations instead of a more forceful hand towards the rebels and the drug gangs. The new president obviously is going much harder in that he's promised to build mega prisons. It's a much more Trump aligned approach. And that will be the place where the US And Colombia under President Trump are really aligned and really trying to move forward.

[David Gura]

Travis, you mention a number of right wing leaders who have come to power in Latin America recently. What explains the shift that we've seen here over the last couple of years in that direction?

[Roland Martin]

There's a couple different theories to that. I mean, this has been a region that has swung back and forth ideologically several times over the last two decades. So there's definitely an anti incumbency aspect to it that we've seen across the world. But also I think the security issues have played a huge role and the left's sort of inability to get its message correct and its strategies correct on that front. You know, if you look at the polls across this region, security and organized crime rank at the top of the list almost across the board. It sometimes comes in different forms. Chile's was a big one with immigration in terms of security. Others in Colombia. Brazil is more on the organized crime security front. We're seeing it now in Brazil ahead of its October election. And it's a big question of whether that's going to swing it to the right as well. Which would be, you know, the last of the major South American economies to make the same move. At the same time, whether because of tariff policies or other things. We've actually seen in polls that Trump is not extremely popular in many of these countries. And so these presidents are positioning themselves as friends to Washington, but at the same time with some segments of voters, that has the potential to really backfire.

[David Gura]

So I think of Argentina, Peru, Ecuador, Chile, Bolivia, the list goes on and on. Where do you put Colombia and its new president in that pantheon?

[Travis Waldron]

Well, he's definitely going to be part of that right wing wave. Damas was inspired by the fiscal authority plan of President Milei, the tough on crime policy of El Salvador, Najib Bukele and he said that he's going to cooperate in terms of security with Ecuador President Daniel Navoa as well. And actually those presidents, Milei, Chile's cast and Ecuador's Noah, they were here in Colombia when the lespieda sworn in for the inauguration. Exactly.

[Josh Mankiewicz]

Yeah.

[David Gura]

Let me turn back lastly to Colombia and the circumstances its new president finds himself in. What do you think a successful response to this earthquake looks like? What does this new president have to do in the weeks ahead?

[Travis Waldron]

Well, he was very radical about his plans of governing without Congress or like being able to hold talks to left wing factions. So what I've heard and when I speak to people who analyze these things is that he needs to tone down his harsh stance on politics. So he has to negotiate to try to get closer to people. The day of the earthquake he headed to the Choco province and then he went to Pereira and Manizales, two cities that were hit the hardest. So at the end he needs to negotiate with some different sectors and that's going to be one of his main challenges because of his personality and how he run the presidential campaign.

[Roland Martin]

Yeah, I think probably the main thing for him is to demonstrate the kind of competence of his government. Right. He's, he's a first time politician. He's never held executive office. And now he's coming into a challenge that sort of is defined by the executive response. Right. But I think the initial response is one thing, the longer term response is another. And as the, you know, the reconstruction takes place, especially in some of these cities that are poor have long felt neglected by the government. There's a real challenge to sort of prove that hey, you're here right now, you're on the ground in this region right now, but are you going to be here in five or six months when the buildings are being rebuilt and maybe they're not going as fast as they want. And so I think that will be the big challenge for his government, especially at a time, again, when you're talking about cutting back the state, cutting spending. There's an argument to make on that front, and he has made it that that will make things more efficient for the benefit of Colombians. But you have to prove it. And this is going to be the sort of situation that really puts a microscope on those efforts.

[David Gura]

This is the Big Take from Bloomberg News. I'm David Gura. To get more from the Big Take and unlimited access to all of bloomberg.com, subscribe [e-mail] podcastoffer if you like this episode, make sure to follow and review the Big Take. Wherever you listen to podcasts. It helps people find the show. Thanks for listening. We'll be back tomorrow.

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