Bolivia’s external debt reached $US 9,830 million in the first nine months of 2018. The amount of debt increased 11% from the same period in 2017.
Eight of nine companies nationalised during the Evo Morales administration are still registered as public limited companies and operate as subsidiaries of YPFB. According to economy specialist Luis Fernando García, the government only acquired the majority of stocks on this companies, but they weren’t strictly nationalised.
The Chilean economy recorded its lowest annual expansion in September, 2.3%, due to the weakening of mining activity, reported the Chilean Central Bank.
The Argentinian Ambassador in Bolivia, Normando Álvarez, stated that his country would pay the outstanding debt for the import of natural gas after Bolivia’s government announced that it will execute the guarantee ballots established in the gas contract between the two countries.
“Bolivia has registered its third consecutive year of trade deficit, according to preliminary data from the National Institute of Statistics (INE). The deficit reached $US1,302 million, the largest imbalance in the country’s history.
Bolivia is a country characterised by its hydrocarbons (gas and oil) and minerals (zinc, gold and silver) exports. However, the country also exports several non-traditional products such as soybean, nuts, jewellery, quinoa, ethyl alcohol, fresh bananas, chia seeds and leather products.
Bolivia’s trade deficit with China has reached $us9,678 million since 2006, according to the Bolivian Institute of International Trade (IBCE). The amount is more significant than Bolivia’s net international reserves and very close to the external debt of the country’s public sector.
The current Bolivian government is making a great effort to reduce the trade deficit with China, said the Development Minister, Mariana Prado. In 12 years, since Evo Morales became President, Bolivia imported $US 2,027 million in goods and services from China, while exports to the Asian country reacher $US 450 million.