Day: Mar 12, 2020

National airlines owe $2.6Mn to Sabsa

The three national airlines in force – BoA, Amaszonas and EcoJet – owe the company Servicios de Aeropuertos Bolivianos Sociedad Anónima (Sabsa) a total of BS. 18 million ($2.6 million) for rentals, landings, ground handling services and others, informed Roberto Cortez, General Maager of Sabsa

2% of the banks’ profits will be used to cover losses

The Government decided to adjust the distribution of the guarantee funds and stipulated that 2% of the profits of the financial system should be used to cover losses on social and productive housing loans. At December 31, 2019, the financial intermediation system recorded benefits of Bs 2,287 million ($328.59 mn). With the resources, the financial system will generate new credits of $300 million for social housing and $120 million for productive housing.

Contract signed for $17.52 mn for southern corridor

Hydrocarbon exploration in the San Telmo and Astillero areas, inside the Tariquía National Flora and Fauna Reserve, will not continue. However, to date, there are no plans to cancel the contracts signed with the operators YPFB Chaco and Petrobras Bolivia, which contemplate an investment of $682 million.

El Mutún’s $440 mn steel project is stalled

In 2016, the Chinese company Sinosteel Equipment awarded the El Mutún steel project, a 40 billion tonne iron deposit, for $440 million, financed by China’s Eximbank, to which the Bolivian State has already paid $6 million in interest. Sinosteel received $108.8 million from the previous Government for the award, and the supervising company earned $4.5 million. The Government has reported that to date there is not even 5% progress and the Chinese company did not deliver the final engineering design of the seven steel plants.