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).
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.
According to the latest report from the National Statistics Institute (INE), as of May 2021, the country recorded a trade surplus of $638 million. It is attributable to the increase in the prices of the primary exported goods and a 23% increase in volum
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.
The State's domestic debt increased by 3,014.1 million bolivianos ($432.44 mn) up to April of this year. External obligations grew by $345.5 million, reaching $12,517.2 million in April.
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.
Argentina's demand for Bolivian natural gas grew gradually from January until this winter, and Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) increased delivery from 11 to 14 million cubic meters per dayMMm3/d. Source: Los Tiempos
The pandemic only accentuated the crisis that the construction sector has been experiencing for the last five years at the national level. The loss of some 160,000 jobs shows that this activity is one of the hardest hit by Covid-19 in Bolivia.
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%
According to studies conducted by the Chamber of Industry, Commerce, Services and Tourism of Santa Cruz (Cainco), smuggling generates an economic loss that fluctuates between $1 billion and $1.8 billion. There is an impact in domestic production of 5% and 10% per year of the Gross Domestic Product (GDP), which harms the fiscal coffers of approximately $350 to $400 million per year.