San Cristóbal, the largest mine in the country, reported last year a net profit of 51 million dollars, 30 million dollars more than in 2018, according to the Sustainability Report 2019 published by the Japanese firm. In its report, it also points out that for its operations in Potosi it paid in taxes 401 million dollars.
Day: Oct 8, 2020
World Bank warns that extreme poverty will reach 28.6 million Latin Americans
The World Bank (WB) warned that up to 115 million people might fall into extreme poverty in the world by 2020 due to the crisis-induced by Covid-19. The institution estimates that the economy will contract by 5.2% in 2020, the largest drop in GDP in 80 years. Latin America, a region where more than 650 million people live, the rate of extreme poverty would go from 3.9% in 2017 to 4.4% at the end of this year, reaching a total of 28.6 million people.
Sigma Corp, a monopoly that moves $89.4 mn in eight years
The State contracts for the nutritional supplements Carmelo (for the elderly) and Nutribebé (for children) awarded to the Chemical and Pharmaceutical Industry Sigma Corp of Cochabamba. The company got 91% of the public contracts to supply these products between 2012 and 2019, a business of Bs 626 million ($89.94 mn). Thus it consolidated the creation of a monopoly that enjoys state complicity due to the lack of controls. Currently, the company is the exclusive representative for the manufacture and distribution of Avifavir, medicine from the Chemrar pharmaceutical group allied with the Russian National Investment Fund used to treat Covid-19.
Joaquín Aponte appointed as the new president of the National Customs
On Wednesday, the government appointed the new president of the National Customs Office, a position held by Joaquín Aponte, a graduate in Business Administration with a degree in Commercial Insurance Management and a postgraduate degree in Higher Education. Aponte replaces Jorge Zogbi, whom last week presented his irrevocable resignation.
Entrepreneurs estimate that GDP will fall by 9%
The president of the National Chamber of Commerce, (CNC) Rolando Kempff, indicated that at the end of this administration 2020 the Gross Domestic Product (GDP) would fall by 9% of its growth, which is approximately $4 billion in all areas of the Bolivian economy.
