Through the Financial System Supervisory Authority (ASFI), the government ordered that Multiple Banks, SME Banks, Development Financial Institutions and Housing Financial Institutions capitalize 100% of the net profits they generated during this year to preserve the stability of the financial system. Banks will not be able to distribute their earnings for 2020, and this money will strengthen equity and channel more credit. According to official data from ASFI, the financial system's profits in November 2020 exceeded 1.145 billion bolivianos ($164.27 mn).
Day: Dec 31, 2020
Exports: Bolivia will close 2020 with 2010 levels
Bolivia will close 2020 with exports at 2010 levels due to global prices' fall and the effects of the Covid-19 on the economy. Exports fell by 24% and imports by 29% compared to 2019. A rebound is a forecast for next year.
Unemployment rate as of November reached 8.6%
According to data from the Continuous Employment Survey, the urban unemployment rate as of November reached 8.6%, 0.1% less than in October. The percentage of the Economically Active Population (EAP) without an occupation reached over 11% last July, due to the effects of the economic crisis and the Covid-19 pandemic quarantine.
International reserves rebound by 2.5% in 18 days
Net International Reserves (NIR) slowed their decline in December this year and rebounded by 2.5% in the space of 18 days. According to official data, between December 1 and 18, the funds managed by the Central Bank of Bolivia (BCB) rose from US$5,305 million to US$5,437 million.
Daily gas production in October reached 49 MMm3
In October of this year, the country's average daily production of natural gas reached 48.84 million cubic meters (MMm3). Due to the addenda signed by Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) with the state companies of Sremtina and Brazil, Bolivia sells approximately 16 to 18 MMm3d of natural gas to the Argentine market and about 14 MMm3d to Brazil. If current production volumes are maintained, the flow delivered next year by the Boycobo Sur-X1ST well (initially of one million cubic metres per day) will reach 2% of the total.
