Seventy companies -most of them in the gastronomy and tourism sector- closed their doors due to the economic crisis caused by the covid-19 pandemic, and of those that are still open, 90% are not in conditions to pay bonuses, according to a recount of the Chamber of Industry, Commerce, Services and Tourism (Cainco) of Sucre.
The industrial GDP fell by 12% due to the economic unemployment caused by the pandemic, according to the National Chamber of Industries, the largest decrease in the sector in the last four decades. It caused the sector's exports to end up falling by 30% until September, and imports of goods and inputs by 25%. We have lost liquidity, without a doubt, and we are at risk of insolvency; an industry has been closed every day.
Bolivia's foreign public debt as of April 30, 2020, reached $11.62 billion. The Central Bank of Bolivia (BCB) reported that the debt reached 27.3% of the Gross Domestic Product (GDP). The government is going to negotiate with international creditors to suspend the payment of the foreign debt service until Bolivia recovers economically.
New Pacific Metals Corp. is pleased to provide an update on exploration activities at the Silverstrike Project, Bolivia. Recent fieldwork has focused on the Silverstrike Central and South areas where the Company has identified three significant new zones of gold and silver-rich polymetallic mineralization. These areas, together with the previously released Silverstrike North zones, form high priority drill targets for testing once the required permits obtained. New Pacific is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosi Department of Bolivia and the Silverstrike Project in Bolivia.