Of 35,000 legally constituted productive units in the country, only 17% (6,000) are operating while the remaining 83% (29,000) are shut down, without generating any kind of income, confirmed the president of the National Chamber of Industries (CNI), Ibo Blazicevic, who warned that if the quarantine is extended, the situation for companies would be "terrible".
The World Bank (WB) predicts that by 2020 remittances will fall sharply, by nearly 20% worldwide, as a result of the economic crisis induced by the COVID-19 pandemic and confinement. In Bolivia, the decline was already noticeable during the first two months of this year, with a 5.6% decrease in remittances.
The Ministry of Hydrocarbons said that in order to recover the country's economy in the medium term, which is affected by the coronavirus, it must return to betting on biodiesel and ethanol, additives extracted from various crops. It also calculated that next month there will be a rebound in the shipment of gas to the markets.
The Senate will approve a 21 million euro ($22.7 million) loan agreement from Italy for the fight against Covid-19. The loan has a term of 40 years and a low interest rate, explained Senator Oscar Ortiz.
The Government requested the World Bank to change Bolivia's classification as a "high-middle-income country," allowing it to access lines of credit with other conditions to deal with COVID-19 and its effects on the economy. The announcement was made to La Razón by the Deputy Minister of Public Investment and External Financing (VIPFE), Gonzalo Quiroga, who in recent days held virtual meetings with representatives of that international body.