Silver and Bolivia-focused New Pacific Metals says detailed mapping and sampling have extended broad areas of mineralisation at its Silverstrike project. Highlights included 1,865g/t silver and 0.96% lead over 2m from a surface outcrop at the CP zone; and 2m at 1,665g/t silver, 0.43% lead, 0.36% zinc and 1.42% copper over 2m from a surface mine dump at the former Lourdes Ines mine. "The results to date indicate good to excellent exploration potential for hosting narrow high-grade and near-surface broad zones of silver mineralisation," New Pacific said.
Deposits in the financial system reached Bs. 189.4 billion ($27.48 billion) in August, 4.9% more than in the same month in 2019, according to a report by the Bolivian Financial Authority (ASFI). The report states that 86% of the deposits are in national currency and 14% in dollars. ASFI also points out that loans in August registered an annual growth of 3.9%, from Bs. 180.3 billion ($26.2 billion) to Bs. 187.3 billion ($27.2 billion).
Bolivia and Brazil signed an Agreement of Mutual Recognition of their Authorized Economic Operator (AEO) programs, which will allow the facilitation of bilateral foreign trade and the strengthening of the logistics chain of goods between both countries. The President of the National Customs of Bolivia, Jorge Zogbi explained that, through the Agreement "the OAS will reach a greater competitiveness becoming creditors of benefits, such as a preferential treatment at the border that will reduce time and costs in both countries".
The recovery of tourism in Bolivia will occur only in 2022, because it requires a year of international promotion of safe sites, said the president of the National Chamber of Tourism Operators (Canotur), Raul Calvimontes. Even though domestic tourism reactivates "gradually" as a result of post-lockdown measures, visits to the country by foreign travellers will demand more time. In April, a study from the Unifranz University said that the tourism sector in Bolivia would lose Bs 6,200 million ($899.09 million) due to the coronavirus pandemic.
The Bolivian Chamber of Electricity (CBE) proposed the Government to constitute a trust of Bs. 1,000 million ($145.08 million) destined to overcome the problems of illiquidity and default in cooperatives, private and public companies of the sector, arising from the Covid-19 emergence. The drop in invoicing payments is currently between 60 and 80 percent in distribution companies, which affects the fluidity of the existing payment system to the transmission and generation companies, said the CBE.
Bolivia will have to pay $822 million this year for its external debt service, which is detailed in $US 454.9 million for capital and $US 367.1 million for interest. According to Bolivia's Central Bank (BCB), the current value of capital plus interest for loans received, concerning the country's exports, represents 7.7%, which is lower than the 15% limit established in the debt sustainability framework of the World Bank (WB) and the International Monetary Fund (IMF).
Ninety-two per cent of the loans granted by multilateral entities correspond to the Inter-American Development Bank (IDB), CAF-Latin American Development Bank, and the World Bank (WB). As of May, the IDB granted $ 3.35 billion, CAF, $ 2.59 billion and the WB, $ 941 million. The global bilateral debt was $1.46b trillion, of which 70% has to be paid to China, 20% to France and 4.4% to Germany, according to BCB reports.
Mayor Luis Revilla presented this Monday the Annual Operating Program (POA) 2021 which has a budget of Bs 2,107 million ($302 mn) for next year, which he described as "austere" since it has a reduction of resources of at least 20%.
President Jeanine Áñez has three new authorities: Branko Marinkovic as Minister of Economy, Gonzalo Quiroga as Minister of Development Planning and Alvaro Tejerina as Minister of Labor.
The Forestry and Land Authority (ABT), part of the Ministry of Environment and Water, reported on Monday that they had initiated 100 administrative processes for the illegal burns that registered throughout the country. At present, there are 15 activated criminal complaints.