Private businessmen ask the government for an injection of $9 bn to reactivate the economy

Entrepreneurs will ask the government for an injection of around 9 billion dollars to reactivate the country's economy. To obtain these resources, the Executive could manage external credits from international organizations such as the Inter-American Development Bank (IDB), the International Monetary Fund (IMF) and the World Bank. This 2020 the country will close with a negative trade balance of $200 million.

A monthly average of 460 companies stopped operating until September

Between January and September of this year, 4,254 companies cancelled their trade registration, an average of 460 per month, according to Fundempresa's figures. The situation is more difficult for small and medium businesses, about 120,000 productive units, of the more than 600,000 that Conamype groups, closed due to the pandemic.

Franklin Molina Ortiz is the new Minister of Hydrocarbons

Franklin Molina Ortiz is a cruceño and consultant to the energy industry. He studied Economics at the Universidad Autónoma Gabriel René Moreno (UAGRM) in Santa Cruz and has completed postgraduate studies in Bolivia and Chile in public management, administration, financial management and business management. He has a vast experience in the sector; he was the vice-minister of energy development for five years. The new Minister of Hydrocarbons will not have an easy task, due to the collapse of the global price of oil and the low demand. The new authority will have to energize the sector that generates more than 30% of the country's export income.