The internal debt of Bolivia’s General Treasury (TGN) reached as of October 2019 an internal debt of of $5.95 billion, which is equal to 13.8% of the country’s Gross Domestic Product (GDP) of around $43 billion, reported the Economy Minister, Jose Luis Parada.
Digital media consultant and journalist. Passionate about history.
The new president of Bolivia’s Mutun Steel Company (ESM), Milko Alberto Moreno, reported that the state-owned company plans to produce and export ferromanganese for about $250 million a year. He explained that the huge iron deposit in Mutun, located in the province of German Busch in the department of Santa Cruz, has large reserves of manganese that will be evaluated through a prospecting study. Ferromanganese is a ferroalloy used in the world’s steel industry to improve the strength and hardness of steel.
Bolivia’s electoral court budgeted Bs.201 million ($29.1 million) for the next election in May. The budget is for the electoral process but not for the rebuilding of the infrastructure of local electoral courts.
The World Bank estimates that Bolivia’s economy will grow 3% in 2020. According to the organisation, the economy slowed down due to the political and social conflict in the country. It estimates that Bolivia’s GDP will grow 3.2% in 2021 and 3.4% in 2022.
The livestock sector has exported 3,000 tons of beef for $16 million to China. Óscar Ciro Pereyra, president of the Santa Cruz Cattlemen’s Federation (Fegasacruz), reported that there is a surplus of 40,000 tons of beef that can be exported, in addition to China, to markets such as Russia. Also, production for domestic consumption is around 200,000 tons, which has generated an income of $500 million.
According to the National Institute of Statistics (INE), manufacturing industry exports between January and November 2019 reached $3.3 billion, representing 40% of Bolivia’s total exports. Metallic gold is the main product, whose sales abroad reached $1.5 billion.
YPFB’s Ammonia and Urea Plant recorded a loss of $34.4 million during 2018 and 2019, according to an analysis by the consulting firm Gas Energy Latin America (GELA). According to the report, the state-owned plant registered a los of $12.5 million in 2019 and $21.9 million in 2018.
The Consumer Price Index (CPI) registered last December a negative percentage variation of 1.54%, and the accumulated inflation of 2019 closed at 1.47%, according to official information from the National Statistics Institute (INE).
The President of the United States, Donald Trump, announced that the restrictions of aid to Bolivia were lifted. The aid will begin on the 2020 fiscal year (from 1 October 2019 to 30 September 2020). The US restricted aid since 2017 after consider that the country was failing in its anti-drug policy.
As of November 2019, the financial system equity in Bolivia reached Bs.20.7 billion ($2.99 billion), an increase of 8.3% compared to similar period in 2018. This equity represents 13.3% of the Capital Adequacy Ration (CAP). In Bolivia, the minimum ratio required by law is 10%.