The main issue is the vast human tragedy. As AFP reports from Colombia:
Colombia faces its worst natural disaster on record due to the effects of relentless heavy rain that … has killed at least 69 people in April alone, bringing the total death toll to at least 90 … damage in 28 of the country’s 32 departments, and has blocked 16 major roads due to landslides. Some have collapsed entirely… This month at least 36 people have been wounded and eight are missing, while another 98,000 were injured and 183 homes were destroyed … the total this year to 15 missing and 208,581 people affected by the disaster, according to the Interior and Justice Ministry. In 2010 more than 300 people were killed by the effects of heavy rain.
But I think it’s worth pointing out that will delay oil exploration and development. I’m busy with a rash of paid work, but if you are an investor in a Colombia-exposed company, you might call and ask how things are going. Feel free to let me know if you hear anything.
ALSO: precipitation in southern Colombia and Venezuela are predicted to stay above normal over the next three months, according to this map from Colombia University’s International Research Institute for Climate and Society.
I have found these predictions pretty good, though this is the hardest time of year for long-term predictions. The Institute predicts normal precipitation across South America for the three-month period of August-September-October.