Gas shortage jeopardizes the production of 1 million litres of alcohol

The Bermejo sugar mill will have to use firewood and bagasse during the 2021 harvest, even though the state-owned YPFB announced the provision of diesel to solve the shortage in this industry. The lack of gas supply jeopardizes the production of at least 1 million litres of alcohol. For this year, the factory plans to produce 700,000 quintals of sugar. Milling will begin this Wednesday.

Quinoa exports fall by 30%

Bolivia produces 63,000 tons of quinoa per year, of which 32,000 tons, or less than 50%, are exported. There is a notable drop in exports due to the increase in production of the grain in countries such as the United States, China, Spain, and France, which are close to covering their domestic demand. Between January and May 2021, exports dropped 30%, reaching $25 million, less than last year when the country received $36 million.

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.