The first semester the Bolivian economy, fell 11.11% due to the impact of the Covid -19. By the end of 2019, it had reached 2.22%. It is a drop of 13.3 percentage points. The Gross Domestic Product (GDP) of the industrial sector registered, as of June 2020, a contraction of 12.76%. In 2019 the industry had a growth rate of 3.19%, so there is a decrease of 15.9 percentage points in six months.
The Banco de Desarrollo Productivo (BDP) S.A.M. will issue Subordinated Bonds for an authorized amount of 170 million bolivianos ($24.3 mn), which will allow maintaining financial sustainability, capturing resources to strengthen the equity position and further growth of the portfolio.
Pablo Mauricio Salazar Pérez was born in La Paz. He has a degree in Business Administration, studied a master's degree at the European School of Business, and completed a Diploma in Leader Development, Management Development program. He performed executive functions in the project for the Implementation of Contributive and Semi-contributive Regimes in the Public Management Company and was a consultant for the Management of Assurance, Collection and Benefits.
The government stated that a few weeks before Christmas, the unemployment rate is 11.8% and that the pandemic influenced this situation.
In the last 11 months, the Net International Reserves (NIR) fell from $6.47 billion recorded as of December 31, 2019, to $5.15 billion as of November 2020, according to the latest official report of the Central Bank of Bolivia (BCB). This fall is 20.3%, a lower figure than that predicted by the International Monetary Fund (IMF).
According to data from the Banco de Desarrollo Productivo (BDP), up to the end of September 2020, its first-floor productive loan portfolio was Bs 2.36 billion ($338.4 mn), of which 69% went to the agricultural sector, for a value of $233.4 million.
Bolivian foreign sales totalled $5.44 billion, 27% less than the same period in 2019. Imports totalled $5.6 billion, 31% less than the same period last year. These values result in a negative trade balance of $168 million.
The Minister of Economy and Public Finance, Marcelo Montenegro, on Tuesday, appointed Liliana Karina Serrudo Miranda as President of the National Customs. The authority has a degree in law and a master's degree in government management and public administration. She worked in the National Tax Service of the district of Tarija, was a summary lawyer of the National Tax Service, National Tax Service Chuquisaca, among other positions.
The urea and ammonia plant in Bulo Bulo (Cochabamba) will remain shut down for another six months and is expected to lose $364 million. The plant has been shut down since November 2019, recording a daily loss of $700,000. The president of the Chamber of Hydrocarbons of Cochabamba said that an expenditure of $350,000 is estimated for the diagnosis of the plant and more than $1 million for its reactivation, which can take up to six months.
The regional government of Beni received more than Bs.20 million ($2.89 million) for the recovery of the department after the impact of Covid-19. Of this amount, 50 percent will go to strengthening the health system, 25 percent to food security, and 25 percent to reviving local economies. In this regard, a project to develop fish farming and lizard meat production in 10 local communities stands out.