Day: Feb 19, 2020

Tax collections amounted to $245 mn as of February 2020

Until February of this year, the National Tax Service (SIN) reported that tax collections amounted to $244.83 million, which gives good signs to meet the objectives of the institution. The goal of tax collection in Bolivia for 2020 is to reach $4,741 million, 8% more than in 2019, under an agreement of results signed between the National Tax Service (SIN) and the Ministry of Economy.

Growth in non-performing loans in financial institutions increased by 15% in 2019

As of December 2019, the delay in loan payment reached $496.6 million (1.9% of the total portfolio) 15% more than in 2018, which was $430.3 million. Although indicators are stable, in a context of deceleration, Law No. 393 of Financial Services complicates the sector because it establishes a rate control for the production industry and social housing credit; also it requires placing up to 60% of the portfolio in these two segments. Delayed payment on these two types of loans grew by 29% last year, and the sector’s authorities have asked for the law to be adjusted. By 2020 Asoban expects a portfolio growth of 5%.

Fernando Hurtado re-elected president as CAINCO renews board

Fernando Hurtado, who was re-elected president of the Chamber of Industry, Commerce, Services and Tourism of Santa Cruz (CAINCO) for the 2020 – 2021 administration. Orlando Vaca was elected first vice president; Javier Marcelo Camacho, second vice president; Ives de Chazal, Treasurer; and Cristobal Roda Roden, Secretary. Denise Hurtado, Anne Paola McFarlane de Rodríguez and Tania Ponce de León are the new directors of the institution.