Bolivian firefighters, members of the military and citizens fighting to protect their homes were battling to contain flames that have ripped through more than a million hectares (2.5 million acres) of farmland and forests. There are more than 26 active fires in Bolivia’s agriculture areas of Santa Cruz and Beni, the government said. Recent rains, however, helped quell potential fires to 1,377, down from 3,128.
Day: Oct 1, 2020
Fitch Downgrades Bolivia to ‘B’; Outlook Revised to Stable
Fitch Ratings has downgraded Bolivia's Long-Term Foreign Currency Issuer Default Ratings (IDR) to 'B' from 'B+' and revised the Rating Outlook to Stable from Negative. The downgrade of Bolivia's ratings reflects deterioration in the country's growth prospects and public finances amid acute political tensions, which are likely to complicate smooth policy adjustments to contain macroeconomic risks after upcoming elections. The Stable Outlook reflects Fitch's view that continuing economic policy tensions and political/social risks are captured in the lower rating. Moreover, the ratings are supported by favorable government debt profile in terms of debt/GDP below the peer median, low interest/revenues, and low near-term maturities.
WB plans $12bn to help poor countries with Covid-19 vaccine
The World Bank said it has asked its board of directors to approve $12 billion to help poor countries purchase and distribute eventual vaccines against COVID-19. The bank has already implemented emergency response programs in 111 countries and the extra money, if approved, would be aimed at low- and middle-income countries.
Total asks farmers not to clearing land near the Incahuasi plant
Total E&P Bolivie, in its capacity as operator of the Incahuasi Gas Processing Plant, asked the people who live near the gas facilities not to clearing land in those areas to avoid major problems with wildfires. "Total recommends not to clearing land in areas that provoke these situations and carry risk", indicates a communiqué of the private oil company. Last Wednesday, fires were registered near the gas plant that did not cause damages to the facilities, but for prevention purposes, the security systems were activated and the production of the plant was stopped.
Gunnar Valda, CEO of Yacimientos de Litio Boliviano, resigned
The CEO of the Empresa Pública Nacional Estratégica de Yacimientos de Litio Boliviano, Gunnar Valda Vargas, resigned to his post. Valda indicates that the decision is due to particular considerations related to the management and "technical-administrative guidelines imposed on this company," from which he prefers not to be part.
