Economic consequences of the ban on coal exports to Israel

by times news cr

2024-08-23 00:02:31

The Attorney General of the Nation, Margarita Cabello Blanco, called the attention of the National Government regarding the negative economic impacts that could be caused by the recent issuance of the decree prohibiting coal exports to Israel.

Speaking at the XXXVI National Congress of Exporters, organized by Analdex in Barranquilla, Cabello Blanco expressed concern about the consequences of this measure, which could destabilize the economy of key regions of the country.

During her speech, the head of the Public Ministry highlighted the seriousness of the economic impacts that the ban entails.. According to him, coal exports represent an annual income of 650 billion pesos for Colombia, through royalties, taxes and contributions. This flow of capital is essential for departments such as La Guajira and Cesar, which, if the ban is implemented, would stop receiving 100 billion pesos.

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White Hair not only questioned the convenience of the decree, but also stressed the need to act coherently. in the face of the country’s current economic situation. “It is vital to take measures that promote economic recovery and not decisions that hinder business freedom and international trade,” he said.

The Attorney General also questioned the effectiveness of the decree to achieve the objectives that the Government presumably seeks.“The export ban does not guarantee national security, food sovereignty, nor does it protect the industry or the market. How does the State plan to compensate for these losses when we all know the delicate economic situation we are in?” he asked.

In his speech, Cabello Blanco reported that the Attorney General’s Office, through its Delegate for Environmental, Mining, Energy and Agrarian Affairs, has already sent its observations to the Ministry of Commerce, Industry and TourismWhile he acknowledged that the State has the power to intervene in the economy for the common good, he emphasized that this measure is neither suitable nor proportional to achieve this goal.

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