BCB to exchange gold for foreign currency to increase NIR liquidity

The Government sent a draft bill that authorizes the Central Bank of Bolivia (BCB) to buy the national gold production. He assured that this regulation would strengthen the Net International Reserves (NIR), which declined. Up to June 16, the NIR reached $4.99 billion. $1.95 billion are foreign currency, $2.57 billion are gold, and $241 million are Special Drawing Rights (SDR).

Bolivia increases potential cocaine production by 44%, according to a U.S. report

Potential cocaine production in Bolivia grew by 44% in the 2010-2020 period, according to a report by the US Office of National Drug Control Policy (Ondcp). Coca cultivation in Bolivia totalled 39,400 hectares in 2020, a slight decrease of about 7% from 2019, but still close to record levels. Potential cocaine production remained stable at … Continue reading Bolivia increases potential cocaine production by 44%, according to a U.S. report

Government proposes a $286.9 million trust fund to finance projects of governorates and municipalities.

The government informed today that it sent the Plurinational Legislative Assembly a draft bill to create a 2,000 million Bolivianos ($286.9 mn) trust fund to finance public investment projects of autonomous territorial entities. This mechanism is called Fideicomiso de Apoyo a la Reactivación de la Inversión Pública (FARIP) and is intended for governors' offices, municipalities and indigenous governments.

Government creates $11.9 mn fund and avoids Aasana stoppage

The Government and the Administration of Airports and Auxiliary Services to Air Navigation (Aasana) reached an agreement whereby the Government will allocate 83.8 million bolivianos ($11.9 mn) for the payment of seven months of outstanding salaries. The workers had announced a strike affecting operations at 42 air terminals in the country.

Mutún will cover 40% of the country’s iron ore demand

The government instructed the export of iron in the shortest term and informed that the Mutun would cover only 40% of the internal demand, 200 thousand tons per year. The steel plant will be inaugurated in mid-2023 and will cost $546 million, of which the China Eximbank will disburse 85%, and 15% will come from the State General Treasury (TGE) and the Productive Development Bank (BDP). It will process 800,000 tons of iron ore per year.

Despite pandemic and smuggling, forestry exports grow by more than 55%

The Bolivian Chamber of Forestry (CFB) reveals that the export value of wood products grew by 55.6% in the first four months of this year, compared to the same period in 2020. Up to April last year, the sector exported $16.4 million, while in the first four months of this year, the turnover was $25.5 … Continue reading Despite pandemic and smuggling, forestry exports grow by more than 55%