Day: Jun 17, 2020

Bolivian Economic Parliamentary Commision rejects $327Mln IMF loan

A congressional committee in Bolivia rejected the $327 million IMF loan to fight COVID-19. The Planning Commission of the Chamber of Deputies, controlled by MAS (Movement for Socialism) lawmakers loyal to ousted president Evo Morales, unanimously rejected the deal on grounds of lack of proper documentation from the IMF. The interim government denounced the Parliament’s rejection of the loan, which was to be repaid over five years at a one percent interest, calling it a political rather than an economic decision.

Chicken production is reduced by 50%, and the price starts to rise

Production was reduced by up to 50% due to the closure of 1,500 farms in Cochabamba. This month, 12 million chickens will be produced, not 18 million as usual. That deficit of 6 million chickens will cause the price of chicken to go up. The increase in the cost of chicken benefits the wholesalers more; producers sell the kilogram of chicken between Bs 12 and Bs 13and the traders sell it for Bs 16.