This year, quinoa exports reached US$85.9 million, according to data from the National Statistics Institute (INE) prepared by Gary Rodríguez's Bolivian Institute. He noted that sales are close to 35,000 tonnes for US$85.9 million, which is a higher volume but lower value than in 2019 due to the drop in international market prices. It is a merit that sales are maintained, and in 2021 can repeat this with promotion and re-categorisation of quinoa and a better price.
Month: Dec 2020
Bolivia will end 2020 with a domestic and external debt of 47.7% of GDP
The government will close a year marked by the economic crisis, generated by the coronavirus. The domestic and foreign debt amounts to 47.79% of the Gross Domestic Product (GDP) projected in the Budget for 2021.
Through a decree, the Arce government allocates $5.37 million to BoA
Through Supreme Decree No. 4429, the Government authorised a capital contribution of Bs 37,475,444 to the Bolivian state-owned aviation company (BoA). The disbursement of the amount will be subject to the availability of the National Treasury (TGN).
CAF and European Investment Bank to co-finance climate action projects for $500m
The CAF - Latin American development bank - and the European Investment Bank (EIB) signed a collaborative co-financing framework for European support to Latin America and the Caribbean to alleviate the damage of the Covid-19 pandemic and promote post-pandemic economic recovery. The agreement proposes a USD 500 million co-financing framework to benefit sectors such as … Continue reading CAF and European Investment Bank to co-finance climate action projects for $500m
Government enacts Law on the Tax on Large Fortunes, the refund of VAT and Budget 2021
On Monday morning, the Government passed three laws: 1.The Tax on Large Fortunes (IGF) will be applied annually to those who have a wealth of more than Bs 30 million ($4.3 mn). 2.The Value Added Tax (Re-VAT) establishes a 5% cash refund for people who earn less than 9,000 Bolivianos ($1291.25). 3.General State Budget Law (PGE) which will prioritise public investment with $4.01 billion which, according to the Government, will help economic recovery.
YPFB asks to reduce up to 28% its gas shipments to Argentina in a new addendum
Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) informed the neighbouring country's energy sector authorities that it is in a position to guarantee a gas supply of 13 and 14 million cubic metres per day (MMm3d) during the winter season, i.e. approximately 28 per cent below the volume established in the current addendum, which expires on 31 December.
As of November, gas exports are down by 28% and minerals by 31%
The latest foreign trade report released by the National Statistics Institute (INE) shows that gas exports' value fell by 28% and minerals by 31% between January and November 2020, compared to a similar period last year.
LAB workers demand payment of $30 mn for wages owed
Extra-employees of Lloyd Aéreo Boliviano (LAB) ask the company's directors for payment of their outstanding wages and other benefits. The amount amounts to 30 million dollars, which could be covered by the auction of the former airline's property at Jorge Wilstermann Airport.
The economic activity falls by 9.56% to October
As of October 2020, the Global Index of Economic Activity (IGAE), which represents a short-term estimate of economic activity, recorded a negative cumulative rate of change of 9.56%, compared with a similar period in 2019.The economic activity falls by 9.56% to October
Government investigates smuggling of gold valued at $18.75 million
The central government has committed itself to assist investigations of illegal gold trafficking. In operation, La Paz's government found 318 kilos of gold valued at Bs 130 million ($18.75 mn) at El Alto airport on Tuesday, which was to be exported illegally, without paying royalties and affecting the work of the cooperatives.
