The national government approved Supreme Decree (D.S.) 4289, which allocates resources for life insurance and permanent disability of 100,000 Bolivians, which will benefit some 40,000 police officers who are in the front line of the fight against COVID – 19 throughout the country. The budget allocation of additional resources is Bs 15,406,000 ($2.21 mn) in favour of the Ministry of Government to contract total and permanent disability or death insurance.
Standard & Poor’s credit rating for Bolivia stands at B+ with stable outlook. Moody’s credit rating for Bolivia was last set at B1 with negative outlook. Fitch’s credit rating for Bolivia was last reported at B+ with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Bolivia thus having a big impact on the country’s borrowing costs. This page includes the government debt credit rating for Bolivia as reported by major credit rating agencies.
From January to May this year, Bolivia imported fuels (petrol and diesel) worth $177.6 million, compared to $452.4 million that were disbursed in a similar period of 2019, representing a drop of 60.7%, according to official data. The decline is due to reduced fluid consumption in March, April and May as a result of the health emergency and the total or rigid quarantine decreed by the transitional government to combat the pandemic of the new coronavirus or COVID-19.
37.2% of the Bolivian population is in poverty, while 12.9% of the national population is in extreme poverty by 2019, according to the update of the basic food basket and poverty lines carried out by INE. In the last four years, poverty has increased in both urban and rural areas.
Companies in at least four employment sectors affected by the coronavirus pandemic in the department of Tarija laid off 90% of their staff in the construction, hotel, gastronomy and transport sectors. At least 1,030 people lost their jobs.
Rolando Kempff Bacigalupo was re-elected yesterday as president of the National Chamber of Commerce (CNC). He will be accompanied on the board with Mario Paredes Vargas as first vice president, Marcos Córdova Achá as second vice president, Lukas Abendroth Spies as treasurer and Douglas Ascarrunz Aramayo as pro-treasurer of the institution. Kempff will preside over the institution for a second term 2020-2021.
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.