The National Statistical Institute (INE) reported on Wednesday afternoon that the cumulative growth of Gross Domestic Product (GDP) in the second quarter of 2019 was 3.13%, which in addition to 4% of the first quarter and the last half of 2018, is not enough to pay the second Christmas bonus.
The President of the National Chamber of Commerce Rolando Kempff warned that there is a loss of $1.1 billion in the GDP due to social conflicts and civic strikes in the country. He called for peace and the end of clashes between Bolivians.
The Organization of American States (OAS) confirmed to the Government that it will send to Bolivia a team of 30 electoral experts to conduct an audit and verify whether the electoral process on October 20th was transparent.
The United States reiterated its request for a run-off between the two most-voted candidates: Evo Morales of the MAS (47.08%) and Carlos Mesa de CC (36.51%). A statement was read on behalf of Secretary of State Michael Richard Pompeo that said:”The Bolivian people have the right to elect their leaders in free and impartial elections. This right is enshrined in the Inter-American Democratic Letter and in Bolivia’s Constitution.”
With the new Land Use Plan (PLUS) map that gives way to a new extensive agricultural production model, sanctioned by the Beni Departmental Assembly, the region not only aspires to become the country’s largest grain producer it also projects a $1 billion dollar contribution over the next decade to Bolivia’s economy over the next decade.
Bolivia is a country where six out of ten retirees are still working; where small businesses are closing due to high labour costs; where export revenues are continuing to decrease; and where government spending is continuing to increase and leaving a financial hole according to official figures, of more $ 3 billion dollars per year. Bolivia, where the economic slowdown is so notorious and international qualifiers, such as Fitch Ratings, predict growth of 2.8% by 2020. Exports dropped to approximately 30% during the last four years. As of August 2019, the trade deficit reached $772 million dollars. According to economist James Dunn, all these points must be addressed and included on the government’s 2020 economic agenda. He states that all the economic problems Bolivia are facing are a result of the economic model the government introduced in 2006, which needs to be updated since the plan no longer reflects today’s reality.
Four days after the general election, the Plurinational Electoral Body awarded – under the shadow of fraud – the victory to Evo Morales in the first round with 47.07% of the vote, compared to 36.51% obtained by his rival Carlos Mesa. The difference between the two candidates is 10.56 points, which eliminates the possibility of a second round.
Until September, Bolivian banks issued $1.925 billion on the local stock exchange. That represents an increase of 55.67% since 2015. Two analysts believe the sector is facing liquidity problems.
Bolivia’s financial system is solid and solvent, said international finance consultant Jaime Dunn. He warned, however, that a climate of political and social uncertainty will affect Bolivia’s liquidity and generate further disqualification.
Bolivia’s presidential election looks set for an unprecedented run-off in December after preliminary results suggested that socialist Evo Morales had failed to win outright a controversial fourth term. Following his toughest presidential fight since sweeping to power in 2006, the country’s first indigenous president on Sunday night hailed a “historic triumph”, despite failing to secure a sufficient lead over Carlos Mesa, a former president. Mr Morales was ahead with 45.7 per cent of the vote with 83.8 per cent of ballots counted, while Mr Mesa was on 37.8 per cent. Mr Morales needed at least 40 per cent of the 5m votes cast, plus a lead of more than 10 percentage points over Mr Mesa to avoid a second-round vote on December 15.