Day: Nov 22, 2018

Second end-of-year bonus divides the government and the private sector

The payment of the second end-of-year bonus must be fulfilled regardless who likes it or not, insisted the Work Minister, Andres Hinojosa. However, the private sector keeps its position of not paying the bonus as it considers it a “perverse decree” that impacts profoundly on revenues, according to the representative of private entrepreneurs, Wilfredo Rojo. Both sectors hope to reach an agreement that allows overcoming the impasse.

Bolivia’s external debt reached $US9.8 billion

Until November this year, Bolivia’s external debt reached $US9.8 billion or 24% of the GDP. The president of the Bolivian Central Bank, Pablo Ramos, insisted that the government has still room for manoeuvre. The current debt is one of the highest in the last ten years and has increased by more than $US2 billion since December 2017, when it reached $US7.26 billion. The debt is also higher than the current International Reserves, which by the end of October were in $US8.5 billion.

Bolivia has invested $US5 bn in exporting gas to Argentina

Bolivia has spent around $US5 billion in transporting gas to Argentina, announced the Government. Hydrocarbons Minister, Luis Alberto Sanchez, said that the country invested in the building of infrastructures such as gasoducts and processing plants to continue exporting gas to its neighbour. Meanwhile, a report from the Bolivian Institute of Trade (IBCE) revealed that 48% of Bolivia’s gas exports went to Argentina and 52% to Brazil.

“OECD warned about difficult times for the global economy “

The Organisation for Economic Co-operation and Development (OECD) lowered its forecast for the global economic growth from 3.9% to 3.5% due to current risks to the global economy. It is the second time in two months that the OECD reviews its projections for global growth. The organisation urged its members to reinforce their cooperation due to the risk of trade wars.