The Government launched the Covid-19 Fund of over Bs 279.3 million ($42.72mn) and released 12% of the resources from the Direct Tax on Hydrocarbons (IDH) – some Bs 1,372 million ($197.12mn) – that were being withheld for hydrocarbon exploration and exploitation, making a total of Bs 1,651 million ($237.21mn). The resources will go to the Autonomous Territorial Entities (ETA) to fight the coronavirus pandemic in their different regions.
Banco Mercantil Santa Cruz (BMSC) leapt forward and positioned 93 among the 100 largest banks in Latin America, according to the 2020 Bank Ranking, published by América Economía magazine. Currently, BMSC has more than $5.4 billion in assets, has more than 440 ATMs throughout the country, deposits from the public exceed $4.5 billion, the loan portfolio is more than $3.7 billion, has more than 776,000 active clients and a net worth of more than $296 million.
The management of the rotation crops of wheat, corn, sunflower, soybean and sorghum show a positive dynamic for the productive sector, the sorghum sowing had a growth of 11% of the sowed area concerning the previous period, reaching 438,000 hectares planted. The estimated area sown is to reach 1,134,000 hectares in the rotation crops (5% more than the last season), where also stands out the wheat with a growth of 8% over the previous winter.
During the first half of 2020, meat exports reached 5,039 tons, slaughtering 35,000 cattle. The value of exports in the first half of this year reached $22.7 million. The primary market is China, with 80% of exports.
The country’s public external debt grew by 3.2% from January to April of this administration; while net international reserves fell by the same percentage on July 3, according to data from the Central Bank of Bolivia (BCB). The Inter-American Development Bank (IDB) is the largest creditor in 2020 with $3.37 billion, followed by CAF with $2.62 billion and the World Bank with 960.4 million. Bilateral creditors show China as the main creditor with $1.031 billion, France with $285.8 million, Germany with 65.6 million and South Korea with $45.8 million.