Day: Jul 28, 2020

Pandemic will accentuate inequality in Latin America, where the fortunes of the rich have grown by nearly $50 billion

The coronavirus pandemic will increase the number of poor and unemployed people in Latin America, but it is also expanding the region’s most enormous fortunes, according to a report released Monday by the humanitarian organization Oxfam. 73 Latin America’s billionaires increased their wealth by $48.2 billion when COVID-19 took hold in the region. The other side of that coin also shows that since last March, there are 52 million people who will return to poverty in the area, along with another 40 million who will join the ranks of the unemployed.

Ethyl alcohol sales grew by 29 % to May

In May 2020, external sales of ethyl alcohol grew by 29% in value and 25% in volume, compared to the same period of the previous administration, according to a report by the Bolivian Institute of Foreign Trade (IBCE) with data from the National Institute of Statistics (INE). The value of ethyl alcohol exports amounted to 22 million dollars, while the volume was 37 thousand tons.

A 7.8% drop in construction this year is anticipated

This year a 7.8% drop in construction activity is projected due to the economic crisis caused by the coronavirus pandemic. The data of the General Index of Economic Activity (IGAE) accumulated until April already show the effects of the quarantine and a fall of the global index of the whole economy of 5.6% observed in comparison with the same period in 2019. According to this, construction activity drop by 19.16%.

Bolivia’s exports rebounded in June by $169 million

June exports reached $505 million, an increase of $169 million from May’s value of $335 million. The most significant increase in exports was in minerals, which in June reached more than $120 million, higher than May’s $34 million. It is worth mentioning the increase in Zinc exports that in June reached $63.7 million, Silver $37 million and Lead $10.6 million.