New Vice-Minister of mining policy, regulation and control

The Government today appointed Marcelo Tellería as the new Vice Minister of Mining Policy, Supervision and Control with the primary objective of carrying out the reactivation of the sector. He is a leader of the industry and was the delegated insurance secretary of the Regional Federation of Mining Cooperatives of Northern La Paz (Fecoman). Tellería replaces the environmental engineer Keylor Enrique Vásquez Clavijo, who was in that portfolio since March 2020.

Bolivia to remain a net importer of crude with forecast net imports of 13,040b/d in the 2020-2029 period.

Bolivia maintains a small net import balance for crude oil, with import volumes estimated at 2,960b/d in 2018 and rising to 11,850b/d in 2019, given a significant drop in oil production that year. As we expect domestic production to further decline over 2020, the imports are likely to increase to over 13,000b/d. Given that investments in oil production remain secondary to gas-targeting projects, we maintain our view that Bolivia will remain a net importer of crude over our forecast period 2020-2029. The increasing demand from domestic refineries will mainly drive higher imports due to growing fuels consumption from 2021. We highlight that Bolivia hopes to increase exports of LPG over the forecast period as new infrastructure comes online.

Armed Forces benefited from $100 mn in “Evo Cumple” projects

Not only specific social organizations and municipalities were the beneficiaries of the more than five thousand works for 15 billion bolivianos ($2.15 bn) that the Special Projects Unit (UPRE) made possible between the years 2012 and 2019. With 232 projects executed, which demanded an investment of 685.5 million bolivianos ($100 mn), the Armed Forces are … Continue reading Armed Forces benefited from $100 mn in “Evo Cumple” projects

Municipalities of Santa Cruz concerned about budget cuts of $38.71 million

In 2021, the budget for the municipalities of Santa Cruz will be Bs 893 million ($128.1 mn), Bs 271 million ($38.9 mn) less than in 2020. According to the provincial mayors, this will put a brake on works and put them in a difficult situation to respond to the demands of health, education and infrastructure. Some will have to suspend different projects.

Government and Searpi sign agreement for $1.43 mn to reforest areas affected by fires

The Ministry of Environment and Water and the Service for Channelling the Piraí River (Searpi), depending on the Government of Santa Cruz, signed an agreement in which Bs 10 million ($1.43 mn) will allocate for the reforestation of 171,000 hectares that were affected by the fires. Bs 7 million ($1 mn) will be in charge of the Government and the remaining Bs 3 million ($431,034) will be paid by the Government of Santa Cruz, through Searpi.

Forty-three tons of gold shores up Bolivia’s Central Bank reserves

Bolivia's long-term commitment to gold is helping to shore up its bonds, even as the Covid-19 pandemic hits the country with more than 100,000 infected. Approximately 43 tons of gold held by the Central Bank have skyrocketed in value as the price of the precious metal has surpassed $2,000 per troy ounce. Bonds maturing in 2028 have risen from 13 cents to 88.6 cents. Bolivia is the country with the highest percentage of gold reserves (42%), surpassing Argentina with 8.7% and Paraguay with 5.6%.

Floods affect 12,976 hectares

The authorities of the municipality of San Pedro, 140 kilometres north of the capital of Santa Cruz, reported that the floods last Friday morning affected seven communities and at least 12,976 hectares, leaving considerable losses in soybean, sorghum, corn and vegetable crops.