Day: May 18, 2020

Banks propose $2 billion funds with state guarantee

The Association of Private Banks of Bolivia (Asoban) proposes a two billion dollar fund with the guarantee of the State to support the different sectors and reactivate the economy. It is the estimate of additional resources to the $500 million that the State channels to revive the economy and to give credit to companies, micro, medium and small enterprises. So far, it has not yet seen one cent of the Bs 1.5 billion ($215.5 mn) that should be channelled to productive units from the Banco de Desarrollo Productivo (BDP) through financial entities.

370 factories return to work

Seven thousand workers in the Santa Cruz industrial park will return to their activities this Monday. They will return to work 100% of the industries in all sectors. The working hours will be from 7:00 to 15:00. Each company has to pick up its personnel. According to the National Chamber of Industry (CNI) during the quarantine, the industry lost $10 million per day.

World Bank approves $254 million credit for bond payments

On Friday, the World Bank’s Board of Executive Directors approved a loan and two credits (one of which is a concession) for a total of $254 million in favour of the Bolivian State, whose objective is to support the country in financing the Government’s social bonds for approximately 3.6 million direct beneficiaries.

Foreign debt reaches $ 11.6 bn and represents 27.3% of GDP

The balance of Bolivia’s external public debt as of April 30, 2020, reached $11.6 billion, according to the latest report from the Central Bank of Bolivia (BCB). The balance of the debt as a percentage of the Gross Domestic Product (GDP) reached 27.3%. The largest creditor is the Inter-American Development Bank (IDB), with $3.3 billion. The Andean Development Corporation (CAF) follows, with $2.6 billion.