We wish you a very Happy Holiday season and a peaceful and prosperous New Year from everyone at Bolivia Económica. We will be back in January.
Bolivia expects to sign new gas contracts with Brazilian firms, announced the Hydrocarbons Minister, Luis Alberto Sanchez. According to Sanchez, the new contracts will generate more profits than the current one with the state-owned Petrobras. He added that Bolivia will continue to export gas to Brazil and Argentina even at better prices. However, both Brazil and Argentina states have announced that they need fewer volumes of gas.
With 20 projects, Bolivia continues to occupy the second place in financial education in Latin America, according to the Latin American Bank Federation (Felaban). Argentina ranks first while Colombia and Paraguay are in third place. Chile, El Salvador, Guatemala and the Dominican Republic are the countries that show the lowest numbers of financial education initiatives.
Bolivia proposed to strengthen Mercosur to confront the global economic crisis and minimise the impact of trade wars. Within this context, the country seeks the creation of a regional commision to project futures scenarios and to combat problems such as extreme poverty. President Evo Morales arrived this Tuesday in Montevideo, where a summit of the regional integration group is taking place, to raise the proposal. He stated that "n these times where economic problems arise, Mercosur must be more united."
US private sector firms could invest up to US$20 billion per annum in oil, gas, fracking, as well as renewables and electricity. Argentina is aiming to attract up to US$140 billion of investment by 2030 from the US. In addition, France will also be investing in the energy sector over the next couple of years.
Luis Sanchez, the "hydrocarbon minister" said that oil & gas revenues will increase to US$ 2 billion in 2018 from US$1.8 billion in 2018. He added that Bolivia has 10.7 trillions cubic feet of proven reserves, according to Sproule International Limited a Canadian firm.
On Sunday, Jaime Duran, the viceminister in charge of Budget, said that the 15% of the second bonus which is to be spent on national products will amount to ca. US$ 140 million.
Bolsonaro's team announced that Nicolas Maduro, of Venezuela had not been invited to Bolsonaro's investiture. It is said that Bolsonaro had always defended the peaceful way and had ruled out supporting a military intervention to solve the crisis the crisis in Venezuela, although he has described the Government of Maduro as a "dictatorship".
The mining sector will grow 26% this year and the royalties will reach $US182 million, which will have a positive impact on future investments, stated the Mining Minister, Cesar Navarro.
The second year-end bonus has to be cancelled by 29 March 2019 in the private sector, established the decree 3747 approved by the Bolivian government. Workers who earn up to Bs15,000 ($US2,173.7) will receive the benefit.