Due to the presence of the Covid-19, the restrictions in Argentina and the lack of return cargo, national carriers prefer not to travel and take care of their health, so banana exports fell by more than 60%. The economic damage amounts to an estimated three million dollars. In 2019 banana exports fell 10% in value and 8% in volume compared to 2018. In January 2020 the figure had a 10% drop in value. In Chapare, there are 7,800 hectares of bananas, and the national banana competes with Brazilian, Paraguayan and Ecuadorian fruit.
Mineral exports fall more than 30% in 2020, due to low Chinese demand as a result of the coronavirus. The situation becomes worse by the reduction in international prices and threatens 50,000 cooperative miners who could become unemployed. Bolivian gold exports reached only $0.4 million in January 2020, the volume of minerals exported fell by 16%, and exports to China fell by 15.2%.
Given the health emergency that the country is experiencing due to the coronavirus, the Central Bank of Bolivia (BCB) approved two operations between Tuesday and Friday for a total of Bs 10.476 billion, about $1.505 billion at the current exchange rate.
The “health emergency” loan of one billion dollars (Bs 7 billion) issued by the Central Bank of Bolivia (BCB) to deal with the effects of the coronavirus would leave our NIR bordering on five billion dollars, since according to the most recent BCB report as of March 12, 2020, it showed a level of reserves of $6.29 billion.
The Executive President a.i. of the National Tax Service, resolved to extend the deadline for the payment of tax obligations, through a resolution, until the period from April 30 to May 29, depending on the formalities to be presented.
Bolivia’s electoral tribunal said it had proposed new dates between June 7th and September 6th to the country’s legislative assembly for holding presidential elections that were delayed by a global coronavirus pandemic. The ballot initially meant to be held on May 3rd.
Sumitomo Corporation (OTCPK:SSUMF) temporarily suspends operations at its Minera San Cristobal silver/zinc/lead mining project in Bolivia, due to all-day or night curfews have been imposed and public transportation has been suspended. Assessment of the impact of this situation to the company’s financial result on 2019 and 2020 is ongoing.
While the Government has given free rein to the flow of foreign trade, especially exports, the same is not true of imported goods. The flow of import goods fell to 60%, leaders of both sectors reported Thursday. In January this year, foreign acquisitions reached $753 million, 15% less compared to the same period of the last administration, while the volume fell 22%, according to data from the Bolivian Institute of Foreign Trade (IBCE).
To meet 100% of the requests from foreign trade operators and generate the conditions for Bolivian trade to develop its activities in the most usual way possible, ASP-B enabled the attention of procedures via the Internet, in its platforms: web http://siap.aspb.gob.bo and http://www.aspb.gob.bo. The requests made by the foreign trade operators, between March 23 and 24, added up to a total of 112 cargo dispatches at the port and the attention of 144 requests for the opening of port dispatches, 340 cancelled forms and the reception of 50 consultations through the online chat, and the lines enabled for customer service.
The Economy Minister reported on Thursday that the economic measures adopted to mitigate the effects of the total quarantine to prevent the spread of the coronavirus would benefit 90% of the population in Bolivia. He added that the Union Bank already manages the rescheduling of debts, of at least 80,000 small producers throughout the country.