Cumulative inflation reaches 1.47% in August

Accumulated inflation for August 2020 amounts to 1.47%, the increase in prices of food, beverages and medicines affected the Consumer Price Index (CPI). La Paz and Oruro were the most inflationary cities due to the problems generated by the blockades and the least affected by the price increase were Cobija and Santa Cruz. According to the report of the National Institute of Statistics (INE), the CPI registered a positive percentage variation of 0.54% concerning July, and in twelve months it reached 1.39%.

The internal debt of the TGN increased by 48.04% and reached 18.7% of the GDP

The internal debt service of the National Treasury (TGN), until June, increased by 48.04% concerning the same period in 2019. Up to June, the internal debt of the TGN reached Bs 56.24 billion ($ 8.07 bn), 18.7% of the GDP, which amounts to 43 billion dollars. This type of debt corresponds to the resources that the Executive Branch lends itself from internal sources: public and private, to sustain investment policies and the expenditures of the state apparatus.

Nuevatel enters the Stock Market with issues for $24 mn

BDP Sociedad de Titularización S.A. issued the NUEVATEL Securitization Securities - BDP ST 049 for an amount of $24.1 million, of which $19.4 million purchased during the first day of placement. NUEVATEL PCS of Bolivia is the youngest company among the telecommunications operators of the country; the process consisted in replacing liabilities and allocating those resources to an investment project projected by NUEVATEL for the technological strengthening of the company, the development of fixed and mobile networks and the improvement of its financial position.

Banana growers lose $60 million due to the crisis in the Argentine market

Banana producers in Bolivia estimate that they have lost more than 60 million dollars this year due to the economic crisis caused by the coronavirus pandemic, which also reached the Argentinean market, the leading buyer of Bolivian fruit. Until March, 90% of the bananas produced in Chapare sent to Argentina; now the figure has been reduced to 75%. Sales to the neighbouring country not only dropped in volume but also in price. The 20-kilo box currently quotes at 4.5 dollars, and its real cost should be six dollars.

Remittances from abroad reported an increase of 12.9% compared to June with $94.7 million

According to a report from the Central Bank of Bolivia (BCB), the flow of remittances in July was $97.4 million, 12.9% higher than that registered in June, which was $86.3 million, and that of May, which reported $53.9 million. The drop in remittances recorded in previous months was due to the cessation of activities due to the COVID - 19 quarantine, which absorbs a large amount of migrant labour (construction, hotel services and care of persons, among the most relevant).