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Mineral exports are expected to fall by more than 30 percent by 2020 due to low Chinese demand as a result of the Coronavirus. This situation, which is aggravated by an extraordinary reduction in prices, threatens approximately 50,000 cooperative miners who could become unemployed.
The Government is working to ensure that exports of Bolivian royal quinoa to the United States and European markets are made under the designation of origin because of the unique nutritional characteristics and size of the grain, which is only produced in Bolivia.
The coronavirus outbreak has an impact on the income of the productive sector, particularly on micro and small enterprises (SMBs) that report a drop in sales of up to 100 percent. Due to the situation, they are demanding an extension of the time for rescheduling loans in the banking sector from two to twelve months.
In the midst of the health emergency caused by the appearance of the Coronavirus in Bolivia, the Government guaranteed the payment of the Renta Dignidad bond to the elderly. However, it was noted that the payment can be accumulated so it was recommended that beneficiaries collect the bond after the quarantine is lifted and stay in their homes to protect their health.
The number of staff was reduced and the scale of work in operations was adjusted in an effort to ensure security, in addition to the progressive reduction of non-essential activities and services.
The Bolivian National Bank Association (Asoban) announced that persons or companies with liquidity problems due to the quarantine caused by the coronavirus will be granted three benefits: 1. Deferment of payments. 2. Rescheduling of debts and 3. Access to resources to finance their activities.
The three national airlines in force – BoA, Amaszonas and EcoJet – owe the company Servicios de Aeropuertos Bolivianos Sociedad Anónima (Sabsa) a total of BS. 18 million ($2.6 million) for rentals, landings, ground handling services and others, informed Roberto Cortez, General Maager of Sabsa
Bolivia’s net international reserves increased by nearly $100 million as of February 28, from $6.213 billion to $6.310 billion, according to the Central Bank of Bolivia. Gold prices and the January trade surplus contributed to this increase.
The manager of Santa Cruz Agricultural Chamber (CAO), Edilberto Osinaga, reported that climatic phenomena, such as droughts and floods, have not affected even 1% of the crops in the country and that supply is guaranteed. The current cultivated area in the country reaches 2.7 million hectares. According to data from the National Institute of Agrarian Insurance, rains and droughts have affected some 15,000 hectares of crops.
The epidemic of the coronavirus and the social conflicts that occurred during the past administration in the country caused foreign tourists to suspend their visit to the Oruro Carnival. The department’s Hotel Chamber only managed to fill 50% of its accommodation capacity and estimates an economic loss of almost $30 million, reported its president, Fernando Rodriguez.
