00:00As Indonesia assesses the damage from that massive 7.7 magnitude earthquake,
00:05rescue efforts are continuing half a world away in Colombia.
00:09They certainly are. Nearly 300 people died in Monday's 7.4 magnitude quake.
00:14For an update, let's head to the capital of Bogota, where Mia Dahl is,
00:19Bloomberg News, Latin American reporter.
00:22Good to have you here, Mia.
00:24What can you tell us about the latest in terms of the rescue efforts
00:26and where that sits right now?
00:30The rescue efforts continue in Western Colombia.
00:33So we've already passed the critical 72-hour rescue window,
00:37but we hear from rescue teams that they still continue to hear signs of life
00:43underneath the rubble.
00:44So they continue to search.
00:45And we know from a recent earthquake in neighboring Venezuela
00:49that it's possible to find people many days after the earthquake strike.
00:55So actually there they found people alive up to 29 days.
00:59So we will see rescue efforts continue these days,
01:03but they will increasingly then become replaced by recovery and reconstruction efforts.
01:08Well, rescue and recovery is, of course, the priority here, Mia.
01:12But we also are concerned about the economic impact on Colombia,
01:17where we understand that coffee exports have partially resumed.
01:21What's the status?
01:23That's correct.
01:25So initially there was a big shock to coffee exports.
01:28Colombia is the world's second biggest coffee grower.
01:32So anything that happens to coffee here will really affect world prices.
01:36And that happened after one day's earthquake,
01:38primarily because of damage to infrastructure.
01:42The roads, the ports that are supposed to transport coffee out of Colombia were damaged.
01:47And that created an initial shock.
01:50We saw like a spike in futures of Arabica coffee.
01:55They had already increased by like 30 percent since June because of weather conditions related to El Nino.
02:03But then we saw like a multiple week high on Wednesday when they came up to $3.2 per pound.
02:13Now they're recovering because those infrastructure routes are starting to recover as well.
02:18And we are likely to see a normalization of that industry.
02:22But there will be very severe impacts to the wider economy.
02:27Well, let's talk about that.
02:28And I also think about the new leadership, the president who just came in.
02:32Mia, you know, often, unfortunately, crisis moments are true tests of leadership.
02:38What can you tell us about that front and how that's going so far?
02:43So the new president in Colombia really just started the job.
02:47He was sworn in as a president on Friday last week.
02:50And Monday was his first day on the job.
02:54And he came into this massive crisis.
02:56He was already facing a number of crises, a fiscal crisis, a security crisis, a health crisis, an energy crisis.
03:06But then this earthquake struck like at 7.30 in the morning, and it created a whole new set of
03:12crisis for him.
03:14He's not an experienced politician.
03:16He used to work as a litigation lawyer.
03:18He also has a rum brand and is more known for his businesses and lawyer work.
03:24But he's now being put to test with this.
03:27I find it really fascinating, Mia, when we consider the international response that Colombia did not want the help of
03:34certain neighbors.
03:35What can you tell us about that?
04:05That has created a lot of criticism.
04:06For the United States, which are ideological allies, unlike Mexico, which created a lot of speculation and criticism as to
04:17whether he was making this like a political gamble for rescue efforts.
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