Russian Ambassador in Bolivia, Vladimir Sprinchan, said that his country is interested in importing llama meat and wool from Bolivia. Llama meat has increased its international prestige due to its high level of proteins and lack of cholesterol. The Russian Ambassador said that both products, meat and wool, are of the highest quality.
Until November this year, Bolivia’s external debt reached $US9.8 billion or 24% of the GDP. The president of the Bolivian Central Bank, Pablo Ramos, insisted that the government has still room for manoeuvre. The current debt is one of the highest in the last ten years and has increased by more than $US2 billion since December 2017, when it reached $US7.26 billion. The debt is also higher than the current International Reserves, which by the end of October were in $US8.5 billion.
Bolivia has spent around $US5 billion in transporting gas to Argentina, announced the Government. Hydrocarbons Minister, Luis Alberto Sanchez, said that the country invested in the building of infrastructures such as gasoducts and processing plants to continue exporting gas to its neighbour. Meanwhile, a report from the Bolivian Institute of Trade (IBCE) revealed that 48% of Bolivia’s gas exports went to Argentina and 52% to Brazil.
The Organisation for Economic Co-operation and Development (OECD) lowered its forecast for the global economic growth from 3.9% to 3.5% due to current risks to the global economy. It is the second time in two months that the OECD reviews its projections for global growth. The organisation urged its members to reinforce their cooperation due to the risk of trade wars.
The credits providing by the financial sector rose 12% between January and October, informed the Vice-minister of Pensions and Finance, Omar Yujra. In the first ten months of this year, added the authority, the credits in the financial system grew from $US21.7 billion to $US 24.2 billion, while deposits increased from $US22.7 billion to $US23.9 billion.
The Andean Development Corporation (CAF) praised Bolivia’s public investment program, which has helped to build basic infrastructure in the last ten years. The CAF’s representative in Bolivia, Gladis Genua, said that the Bolivian state had prioritised the construction of highways, water and electric projects that helped to the development of the country. CAF has invested in the last decade $US 2.5 billion in public investment projects.
The Bolivian government announced that in the following days it would sign purchase-sale gas contracts with private firms. However, representatives of Tarija and Santa Cruz, the two leading regions for gas production in Bolivia, warned that the country is not in a position to sell more gas to private clients because the output has dropped.
The Bolivian State and the Bolivian Mining Corporation (Comibol) were excluded from the arbitration process that the Indian Jindal Steel began against the state-owned Mutun Steel Company (ESM), informed the Bolivian government. Jindal seeks compensation of $US86 million after the Morales Administration executed a warranty bill for not finishing the steel project in Mutun.
“By September this year, twelve of 31state-owned companies have implemented only 24.4% of their budget, according to the Ministry of Economy.
Bolivian state-owned oil & gas company, YPFB, invested around $US38 million in seven regasification plants and spent $US 16 million in 1,506 connections for household gas that will benefit 7,530 inhabitants in Beni. According to YPFB, the nationalised company has invested $US62 million in Beni for exploration and gas distribution.