With “La Razón”, Carlos Gill recognized in 2019 that his annual earnings were between 9 and 93 million Bolivians ($1.3mn and $13.6 mn). He owns the newspaper for more than a decade. If we take an average, we add in the end a probable accumulated of 500 million Bolivians ($71 million). One hundred forty ex-employees fired from “La Razón” are preparing to fight for their severance pay. Director Claudia Benavente decided to throw them out on the first day of July without severance pay. She used the perfect excuse: the COVID-19.
Four months of inactivity due to the quarantine left a negative balance that translates into $80 million that the state stopped receiving, compared to 2019. Also, it records a debt of $30 million that corresponds to aircraft rentals, aircraft engines and components, aviation services, personnel salaries and repair and purchase of spare parts.
The Productive Development Bank BDP-SAM launched “Pirwa Productiva”, its new second-tier business line aimed at the country’s agro-productive sector. This loan will finance 20-year storage structures for grains, seeds, and agricultural inputs, and provide specialized technical assistance. Interest rates are regulated for the microenterprise sector at 11.5%, for small businesses at 7%, and medium-size companies at 6%.
As of the end of June, International Reserves (IR) reached $6.29 billion. 20% of these resources are gold. According to the BCB, they represent up to 16% of the Gross Domestic Product. The NIR guarantees the stability of the exchange rate, which since 2011 maintained frozen at Bs 6.96 per dollar.
Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) asked its Argentine counterpart for an advance of $100 million on account of the entire natural gas supply to send in July. YPFB requested the advancement because the country was in breach of contract by not declaring a guarantee from Banco Nación. The “default” does not imply a risk of natural gas supply to Argentina, although it reveals the country’s poor energy season.