Moody’s kept Bolivia’s grade on Ba3. The rating agency highlighted the growth and International Reserves of Bolivia, which mitigate risks. William Foster, of the Investors Service of the Rating Agency, explained that one of the challenges for the country is to overcome its high dependence on hydrocarbon exports. Moody’s added that a weak institutional framework is another hurdle. External vulnerability risk is moderate, with International Reserves at about US$ 6.9 billion, representing 21% of GDP and external debt payments of only 20% to 30% of reserves.
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