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Oil companies declare economic emergency in eight Colombian provinces

Oil companies declare economic emergency in eight Colombian provinces

Medellin, Colombia – Colombian President Gustavo Petro declared a state of economic, social and ecological emergency on Wednesday, February 11, in response to flooding in northern Colombia.

Under the measure, the Petro will be able to collect taxes by decree and is expected to try to raise 8 trillion Philippine pesos ($2.1 billion) to fight the crisis.

The measure comes less than two months after Petro’s previous attempt to declare an economic emergency, with the Senate saying it would oversee all measures to guarantee “respect for democratic order and the rule of law.”

government officials announcement “Exceptional” weather conditions were highlighted in the affected provinces of Córdoba, Antioquia, La Guajira, Sucre, Bolivar, Cesar, Magdalena and Choco, affecting more than 250,000 people.

Petro had previously declared a 30-day economic emergency starting on December 22, 2025. The move comes after the government failed to win Senate approval for a tax bill aimed at increasing the state budget by $4 billion in 2026.

However, on January 29, in an unprecedented decision, the Constitutional Court overturned his decree. final decision was made. This sparked angry reactions from netizens presidentwhich he claimed represented a “real breakdown of the constitutional order.” He went on to emphasize the government’s role as “a friend of working people”, while his home minister, Armando Benedetticlaiming the courts are helping protect the “super rich.”

Opposition members from all parties in the Senate expressed their disagreement with the decree during the January 30 debate. Angélica Lozano of the Green Alliance Party (Partido Alianza Verde) called the measure “unconstitutional”, claiming it put “the separation of powers at risk”.

Oil companies declared a new economic emergency this week after the Constitutional Court refused to lift the moratorium. The decree details that all measures taken will be “strictly limited to averting the crisis and preventing the spread of its effects, without permanently replacing or changing the ordinary legal system.”

this Senate A state of emergency has since been declared for “political control”. This means they will monitor every measure to ensure an “urgent, transparent and effective response” to affected sectors.

Wednesday’s declaration marks the third economic emergency declared during Petro’s government. After the 523 trillion peso ($126 billion) 2025 budget failed to gain approval, oil companies forced it through a decree, a mechanism last used in 1904 after Panama’s succession to the throne the previous year.

Featured Image Description: President Petro talks about decertification in his speech.

Featured image credit: Office of the President of Colombia.