The National Chamber of Commerce (CNC) warned that some 100,000 jobs in Bolivia are at risk and that 20% of companies could close operations due to the illiquidity generated by the Covid-19 quarantine. The quarantine left at least $300 million of losses in the sector.
Due to the quarantine, the implementation of teleworking and tele-education, internet consumption in Bolivia rose by 40%. In the country, the telephone companies currently have more than 10 million users, of which between 80% and 85% are postpaid customers and the rest are prepaid customers (mainly cell phones). These users have increased internet consumption by 40%, reported the president of the Bolivian Telecommunications Chamber (Catelbo), Eduardo Trigo.
Those who owe less than Bs.1 million ($144,882) to the banks will be able to defer their June, July and August quotas, Development Minister Oscar Ortiz said. People who owe less than one million Bolivians represent the vast majority of people who owe to banks. This is the second time that bank loans are deferred, as payments from March, April and May were previously deferred.
Remittances to Latin America and the Caribbean have plunged as a result of the Covid-19 health crisis and global economic recession. The region will receive a projected $77.5 billion in remittances this year, 19.3% less than the $96 billion it received in 2019, according to provisional forecasts by the World Bank.
The Bolivian government has delayed the deadline for filing corporate income taxes by two months for all but the largest businesses. The tax had previously been delayed for all companies from March 30 to May 29. The new deadline is July 31. The extensions applies to 80% of companies.