IBCE rates 2020 as the worst year since 1953

The Bolivian Institute of Foreign Trade (IBCE) reported yesterday that this 2020 would be remembered as one of the "worst" years for the local economy since 1953 due to the effects of the pandemic, which will cause a contraction in the gross domestic product (GDP) of 8.4%. This loss is some 3.5 billion dollars compared to 2019, the year in which the country recorded its slowest growth (2.2 per cent) in almost two decades. This GDP's drop is the worst in 67 years.

The BCB is the largest creditor of Bolivia’s domestic debt, with 54.6%

As of October this year, the internal debt of the General State Treasury (TGN) reached $9.322 billion; the main creditor is the Central Bank of Bolivia (BCB) with 54.6% of the total, followed by the bonds of the Pension Fund Administrators (AFP), auctioned in the financial market, with 41.2%. The remaining 4.2% corresponds to AFP bonds.

YPFB confirms that it found oil and gas reserves in the Yarará well

The state-owned YPFB confirmed on Saturday that oil reserves of 13.7 million barrels of oil (MMbo) and 76.8 trillion cubic feet of natural gas (BCF), the latter equivalent to 0.78 trillion cubic feet (TCF), were found in the Yarará X-1 (YRA-X1) well, located in Yapacaní, Santa Cruz. However, there is no date for the start of production because the reservoir is still in the testing phase.