Bolivia ordered the closure of its embassies in Nicaragua and Iran while also shuttering three federal ministries in a cost-cutting move to free up money to fight the coronavirus, President Jeanine Anez said Thursday.
During the total quarantine, the Government approved the transfer of more than 506 million bolivianos ($72.7 mn), for the Ministries of Defense and Government.
The National Confederation of Micro and Small Businesses (Conamype) is taking steps to acquire a $500 million credit, aimed at the economic reactivation of micro-businesses that were affected by the quarantine and health emergency of the coronavirus.
According to the National Statistics Institute (INE) report, the Consumer Price Index (CPI) for May registered a variation of -0.02% compared to April. The accumulated difference to May was 0.42%, and to twelve months it reached 1.23%.
The volume of food and beverage imports between January and April 2020 increased by 13% compared to the same period in 2019, according to the latest report from the Bolivian Institute of Foreign Trade (IBCE). The value of imports totalled $2.27 billion, 30% less compared to the amount recorded in a similar period in 2019.
The Planning, Economic Policy and Finance Commission of the Chamber of Deputies postponed without date the treatment of the International Monetary Fund (IMF) credit project for $US 327 million, requested by the Government because the Ministry of Economy and Public Finance did not deliver the informative documentation of the conditions and clauses that would establish the loan of the international organism.
The Guabirá Sugar Mill began its 2020 sugarcane harvest yesterday, with the expectation of grinding 2.6 million tons of cane to produce three million quintals of sugar and close to 100 million litres of alcohol.
From January to April, mineral exports had a fall of 36%, foreign sales of minerals reached 448.1 million dollars; in the first quarter of 2019 reached 704.9 million dollars. Zinc, silver and lead reduced their sales by more than 40% in 2020.
Funds will be made available for infrastructure, rapid testing and equipment to combat the coronavirus in the country. The Legislative Assembly informed there is an accumulated amount of $500 million that will go for the exploration and exploitation of hydrocarbons. The intention is to temporarily give 12% of that amount to the autonomous territorial entities and universities so that they can use the money to fight the Covid-19.
The cultivated area is around 165,000 hectares, with a projected production of 11.5 million quintals of sugar and 200 million litres of alcohol in the 2020 harvest. 50% of the output will go to the internal market, and the other 50% will be exported.