Four municipalities generate 42% of Bolivia’s wealth

Four municipalities in Bolivia - Santa Cruz de la Sierra, La Paz, Cochabamba and El Alto - generate 42% of the country's wealth, while 328 municipalities produce 45% of the Gross Domestic Product (GDP), according to the Jubilee Foundation. Of these 328 municipalities, 169 produce 40% of the country's wealth, while the remaining 159 generate only 5% of the total GDP.

Suspension of Carnival will impact 14 sectors and will stop moving at least $70.82 mn

The suspension of the main Carnival events in the country will stop moving at least Bs.489 million ($70.82 million).The economic losses will affect some 14 sectors that form part of the supply chain at this time of year, including hotels, artisans, musicians, restaurants, among others.

Restaurant sales in Cochabamba dropped by almost 40% due to COVID-19

The Covid-19 pandemic decreased restaurant sales in Cochabamba by almost 40%. Of the approximately 4,000 restaurants, 30% have closed permanently, while another 15 % are at risk of going out of business as a result of the impacts of the second wave. According to the Asociación de Empresarios de Restaurantes y Afines (Aserac), all restaurants in the city had to withdraw staff. Before the pandemic, the sector generated 40,000 direct jobs and 80,000 indirect jobs.

Softbank to invest $1 bn in Latin America in technology by 2021

Japanese conglomerate SoftBank Group plans to invest close to $1 billion from its Latin American private equity fund this year as it looks to boost technology growth in the region in the wake of the Covid-19 pandemic, including agricultural technology. About 70% of the fund's investments will continue to be in Brazil, but there will also be opportunities in Mexico, Argentina and Colombia. The $5 billion fund has already invested $2.3 billion in Latin American companies such as Banco Inter, Rappi and Gympass.

Bolivia signs deal with China’s Sinopharm to acquire 500.000 coronavirus vaccines

Bolivia said it had inked an agreement with China's Sinopharm locking in an initial supply of 500,000 doses of the company´s vaccine against coronavirus by the end of February. Bolivian President Luis Arce said China’s President Xi Jinping had agreed to sell Bolivia 400,000 doses and had donated another 100,000 doses to the South American nation.

BOA cuts salaries and staff to cut costs by 30%.

Boliviana de Aviación (BOA) is implementing an austerity plan to reduce salaries and lay off workers, with the aim of making the state-owned airline's operations sustainable. He explained that the company aims to lower costs by 30% and thus achieve a profitability by 2022. He pointed out that the airline's operations were reduced by more than 40% on average due to the impact of the COVID-19 crisis.