Month: Apr 2020

EMAPA will collect 85,000 tons of corn

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.

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).

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.

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.

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.