The Food Production Support Company (Emapa) will collect 85 thousand tons (t) of hard yellow corn to supply poultry and pig farmers. In the 2019/2020 agricultural season, it will pay Bs 61 per quintal of grain. It will boost production of 24,473 hectares in the departments of Santa Cruz, Tarija, Chuquisaca and Beni.
Month: Apr 2020
Coronavirus puts 5.2 million jobs at risk in Bolivia
A study by the Inter-American Development Bank (IDB) estimates that 5.2 million jobs are at risk. Another study by the Center for Labor and Agricultural Development Studies (CEDLA) states that 78% of the working population is the most vulnerable (55% are self-employed, and 33% employed in microenterprises).
YPFB placed contracts for $163.9 mn without bidding
As part of the emergency contracting procedure, due to the coronavirus pandemic, Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) awarded without bidding at least four contracts for the supply of diesel and inputs and additives for $163.9 million.
In the first quarter exports reached $2.05 bn
From January to March 2020 the country had a positive trade balance of $76.2 million, the first after five years of continuous trade deficit, according to the data of Bolivia's foreign trade, published by the National Institute of Statistics (INE), $32 million above that recorded in a similar period of the 2019 administration which was $2.02 billion.
Moodys warns of low-grade scenario for Bolivia
On March 10, Moody's downgraded the Bolivian government's foreign and local currency issuer and unsecured debt ratings from B1 to Ba3, and shifted the outlook to negative, toward lower growth seen since 2013. In 2020, the Gross Domestic Product (GDP) projected to decrease by up to -3%. While by 2021, this growth would reach a maximum of 3%. In addition to this, there is the political risk that began to operate last year.
President Áñez passes law approving Italian credit for 21.5 mn euros
On Tuesday, President Jeanine Áñez signed into law the law authorizing a 21.5 million euro (23.5 million dollars) loan from the Bank of Italy, Depositi e Prestiti S.P.A., which will benefit 16 of the country's municipalities, to strengthen the health system. The loan is for 40 years, without interest and with a 33-year grace period.
Coffee exports accumulated over $199 mn in 13 years
In the year 2019, Bolivia exported coffee to 21 countries, USA is the leading destination with 39% of the total, followed by Japan with 13% and the UK 12%. Since 2016, La Paz is the only coffee exporting department. Between 2006 and 2019, coffee exports accumulated more than 199 million dollars. In the first quarter of 2020, external sales of coffee grew 21% in value and 35% in volume.
Bolivia will have to pay $822mn to creditors this year
The Central Bank of Bolivia (BCB) projected that Bolivia would pay off its creditors this year the sum of $822 million: $454 million for capital and $367 million for interest. The Center for Labor and Agricultural Development Studies (CEDLA) suggests that the government apply urgent measures to confront the crisis caused by the coronavirus pandemic, including seeking the suspension of foreign debt payments and achieving forgiveness.
La Paz pays $1.58 mn in luxury hotel rent for Covid-19’s minor patients
The agreement is for one year. Each month the commune of La Paz will pay $131,705, until yesterday there were 29 patients registered and today there are 54.
Reserves go up by $647 mn during quarantine
In an environment of total economic paralysis, due to the isolation of the country by the presence of coronavirus, the Net International Reserves (NIR) grew by $ 647 million. As of April 22, according to the Central Bank of Bolivia (BCB), the NIR stood at US$ 6,568 million. The increase represents 10.9%, compared to the figures registered in March when they fell to their lowest level since 2008.
