Colombia labor ministry announces $700 subsidy per worker for micro and small firms

Colombia's Ministry of Labor will provide 700,362 pesos per affected employee to micro and small enterprises, pay half a minimum wage to unemployed affected individuals, and relax severance, vacation, and activity-suspension rules for six months. The measure is a targeted fiscal response to an unspecified economic disruption, likely aimed at preserving employment in small firms. Its impact depends on the scale of the affected population and the fiscal cost, which remains unclear.