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Newspaper La Razon fires 140 workers

With “La Razón”, Carlos Gill recognized in 2019 that his annual earnings were between 9 and 93 million Bolivians ($1.3mn and $13.6 mn). He owns the newspaper for more than a decade. If we take an average, we add in the end a probable accumulated of 500 million Bolivians ($71 million). One hundred forty ex-employees fired from “La Razón” are preparing to fight for their severance pay. Director Claudia Benavente decided to throw them out on the first day of July without severance pay. She used the perfect excuse: the COVID-19.

BDP will finance the installation of grain and seed silos for up to 20 years

The Productive Development Bank BDP-SAM launched “Pirwa Productiva”, its new second-tier business line aimed at the country’s agro-productive sector. This loan will finance 20-year storage structures for grains, seeds, and agricultural inputs, and provide specialized technical assistance. Interest rates are regulated for the microenterprise sector at 11.5%, for small businesses at 7%, and medium-size companies at 6%.

Bolivia requests to Argentina $100 million in advance for July gas

Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) asked its Argentine counterpart for an advance of $100 million on account of the entire natural gas supply to send in July. YPFB requested the advancement because the country was in breach of contract by not declaring a guarantee from Banco Nación. The “default” does not imply a risk of natural gas supply to Argentina, although it reveals the country’s poor energy season.

Accidental Tunari Association (AAT) denounces government debt of $42.56 mn

The Asociación Accidental Tunari (AAT), which is executing the Cochabamba Metropolitan Train project, reported that the government owes it nearly 297 million bolivianos ($42.67 mn) in payroll and almost eight million ($1.15 mn) in interest. Additionally to this amount, Bs 330.6 million ($47.5 mn) have not yet invoiced for the progress of work as of December 2019. The debt caused the contract of the consortium formed by the companies JOCA from Spain, Molinari from Switzerland and the Bolivian State to be suspended due to default.

Construction activity decreases by 48%

Construction activity fell by 48% in April 2020 compared to the same month in 2019, according to data from the INE’s Global Economic Activity Index (IGAE). Added to this critical situation are the debts that national and sub-national public entities have with the country’s construction companies, which border on Bs. 2.5 billion ($359.2 mn).