60% of trade and service companies reduced revenues by more than 70%

A survey conducted by the National Chamber of Commerce (CNC) reveals that eight out of ten companies are considering laying off staff in the next three months. They are calling for the creation of an economic revival fund. Six out of ten companies suffered a drop of more than 70% of their income, and 17% of the entrepreneurs indicate that they will have to close the business due to the impossibility of generating revenue to cover their immediate obligations.

CAF to grant $2.5 billion credit to member countries to deal with pandemic

The Latin American Development Bank - formerly known as the Andean Development Corporation, CAF - reported on Wednesday that it will grant a loan of up to $2.5 billion to its member countries to address the emergency generated by COVID-19. Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Costa Rica, Mexico, Uruguay, Paraguay, Panama, Peru, Dominican Republic, Trinidad and Tobago, Costa Rica and Venezuela are among the CAF partner countries, according to information published on the entity's website. CAF had also approved a contingent credit line of up to $50 million per country to address the public health systems of Argentina, Ecuador, Panama, Paraguay, Peru, Trinidad and Tobago and Uruguay

Real GDP growth in Bolivia will contract in the coming quarters

The economic impact of Covid-19 will exacerbate the country’s recent growth slowdown as the Bolivian government maintains restrictions on mobility and business activity. In addition, the dual impact of weak global demand and the inability of the OPEC+ group to extend oil supply cuts during a March 2020 meeting will undermine global energy prices and constrict Bolivian natural gas production in the coming quarters. Therefore, we now forecast Bolivian real GDP will contract 0.3% y-o-y in 2020, its first recession in over 30 years.