The Banco de Desarrollo Productivo - S.A.M., through its Seed Capital Fund (FOCASE) credit, disbursed in one year more than Bs 107 million ($ 15.35 mn) in the financing, to expand the universe of beneficiaries and reduce interest rates for producers.
The San Buenaventura Sugar Company (EASBA) managed to produce, in these 11 months of 2020, 320,000 quintals of sugar and 1.1 million litres of alcohol, in addition to electrical energy that injected into the National Interconnected System. The company expects to close this year with 60 million bolivianos generated by sales, a figure higher than the 40 million bolivianos developed in 2019.
Despite the drop in quinoa production, exports from January to September 2020 increased by 4 per cent in value and 17 per cent in volume compared to the same period last year. Between January and September of this year, quinoa exports managed to capture 71 million dollars from the sale of 28,656 tons of the grain.
The flow of remittances corresponding to September 2020 reached $106.8 million, an amount 5% higher than that registered in August, reported the Central Bank of Bolivia (BCB). Remittances came mainly from Spain (41.1%), the United States (21.2%), Chile (12.8%), Brazil (5.1%) and Argentina (4.9%).
The challenge of the new president Luis Arce Catacora is to reverse the situation of several indicators, such as net international reserves (NIR), exports and income, which had already been deteriorating since 2014. Official figures from the Ministry of Economy show a slowing down economy to 2.9% in 2019. 2020 foresees a negative rate of 6.2%. The Central Bank of Bolivia (BCB) reflect that as of October 2020, NIR stood at 5.58 billion dollars.