The Colombian opposition Liberal Party proposed that the government bail out Colombians affected financially by the ongoing tensions with neighboring country Venezuela.
Colombians exporters are owed money by Venezuelan investors and in the face of the diplomatic crisis between the two nations, there are fears that many who trade with Venezuela may go bankrupt.
Trade between the two countries dropped 57% in October following the crisis.
The Opposition, Partido Liberal, suggested that the government pay off the Venezuelan debts to Colombians who are out of pocket, in a bid to avoid economic crisis, El Espectador reported Monday.
The Oppostion’s other proposal is to allow Venezuelans to open savings accounts in Colombia to ensure the continued flow of capital between the two countries.
Relations between the neighboring countries deteriorated after Colombia signed an agreement with the U.S., which grants the north american nation access to seven Colombian military bases.
Venezuela accuses the U.S. of seeking to destabilize its leftist government through the pact and has frozen all diplomatic ties with Colombia.