The Economic Commission for Latin America and the Caribbean (ECLAC) raised the growth projection for Bolivia from 4.3% to 4.4%, which means that the country will head the list of nations with the highest growth in the region, in 2019.
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President Evo Morales confirmed yesterday, that the Government of India is willing to invest U$D 13 billion in Bolivia’s hydrocarbons sector. The statement was announced during an act in the city of Cobija, Pando.
The Head of State referred to this achievement after the first meeting he held with the President of India, Ram Nath Kovind, in the city of Santa Cruz, on March 29.
During the meeting between the two leaders, a Joint Declaration was approved and eight complementary agreements were signed, that will benefit both countries. According to Morales, the areas covered the health, lithium and hydrocarbons sectors.
Bolivia had a trade surplus of more than US$500 million with India in 2018, said the CEO of the Bolivian Foreign Trade Institute (IBCE), Gary Rodríguez. Exports to India increased significantly since 2007. “Bolivia sold U$D 723 million and imported U$D 152 million, therefore the surplus reached U$D 517 million. We expect this kind of relationship in the country to shore up our International Reserves in the BCB.”
Bolivia has a 2030 development plan that will be based on lithium, affirmed President Evo Morales. He added that there are plans to build more than 40 lithium plants and some of them are under construction. The President pointed out, that the “2030 Plan” will also include the construction and industrialization plants of hydrocarbon gas pipelines to the Pacific.
According to Supreme Decree No. 3738 of December 7, 2018, the capital paid by the German company ACISA for a 70-year contract, at the time to constitute the Public Joint Venture with the Bolivian lithium state company (YLB-), was only US$ 739,224.
The Government asked Bolivian banks to repatriate capital from abroad to sort out an apparent minor liquidity problem in the financial sector. According to the Economy Minister, Luis Arce, Bolivian banks have a lot of dollars on foreign accounts, but they are not bringing back this capital. He added that the Government already asked them to repatriate this money.
With a call to preserve democracy and peace, the Interamerican Human Rights Court (CIDH) began in Sucre, Bolivia, its 171 term session. This is the first time that the organisation meets in Bolivia. The magistrates will review 25 civil organisation demands from 14 countries. The sessions will not include demands from the host country. However, they will listen without opinion the claims from Bolivian civil organisations thad demand the Government to comply with the results of the referendum of 21 February 2016 (21F), when 51% of voters denied President Evo Morales the possibility of rerunning this year for a fourth consecutive term.
Bolivia is the country with more low productivity employment in Latin America, according to a study. According to the Inaset Foundation, low productivity employment is over 60% with a negative impact on incomes and the country’s development.
The slowdown of the world’s leading economies will increase the uncertainty in Latin America, warned the Economic Commission for Latin America and the Caribbean (ECLAC). According to the organisation, the slowdown in China, the US and Europe will impact negatively in the region which can expect a growth of only 1.7%.
Bolivian producers expect to export meat to the Russian and Chinese market by mid-year. A Russian delegation will visit Bolivia this month to inspect the refrigerating plants enabled to export meat and to review the sanitary protocol that should be agreed between Russia and Bolivia.