Workers of construction companies demand the payment of Bs 309 million ($44.33 mn) corresponding to works executed in the 55 municipalities of Santa Cruz. They peacefully took over the installations of the Association of Municipalities of Santa Cruz (Amdecruz) and declared a hunger strike, indefinitely, until the contracting entities comply with the payment of the debts. Some 10,000 families depend on the sector.
A report by the State Financial Investigations Unit establishes that the Venezuelan government lent the Bolivian State, between 2008 and 2009, $16.1 million through the Evo Cumple program. Then, $4.5 million were sent to Spain to accounts of the PRISA group, through the company Flaba Trading, which belongs to Marcelo Hurtado, for the acquisition of La Razón-Extra. The other $10.02 million were sent to accounts in the United States in the name of Jordán Silva Tugues, assistant to the Venezuelan Chavista businessman Carlos Gill, for the acquisition of ATB. The shares ended up in private hands: Marcelo Hurtado and Carlos Gill.
The generation and distribution companies of the electric industry, associated to the Bolivian Chamber of Electricity (CBE), propose to the Government the constitution of reserve trust of Bs 1 billion ($143.47 mn) to support the economic effect of the deferral of payment of electric energy bills during the confinement by Covid-19. The deferral of payments for April, May and June transactions in the wholesale electricity market exceeds Bs 955 million ($137 mn).
According to the report of the Government of Santa Cruz, there are 16 fires in the whole department, in the Copaibo Municipal Reserve it is 30 days in a national emergency because the region suffers from a 64% of high and very extreme risk. Forty-seven per cent of the protected natural areas suffer from fires, 42% correspond to land for agro-silvopastoral use, 9% are land for extensive agricultural use, and 1% are land for restricted, intensive farming and forestry use.
Moody’s Investors Service (“Moody’s”) has today downgraded the Government of Bolivia’s local and foreign-currency issuer and senior unsecured debt ratings to B2 from B1 and changed the outlook to stable from negative. The decision reflects: (1) the material erosion of fiscal and foreign exchange reserve buffers; and (2) medium-term prospects for reduced economic growth, lower government revenue generation and weaker foreign exchange earnings in a context of relatively weak hydrocarbon sector demand and persistent policy uncertainty. The stable outlook reflects that, at the B2 rating level, risks to Bolivia’s credit profile are balanced. Concurrently, Moody’s lowered Bolivia’s long-term foreign-currency (FC) bond ceiling to B1 from Ba3, its long-term FC deposit ceiling to B3 from B2, and its local currency bond and deposit ceilings to Ba3 from Ba2. The short-term foreign-currency bond ceiling and the short-term foreign-currency bank deposit ceiling remain unchanged at Not Prime (NP).
This week, the national government will seek to establish the credit of $130 million, destined to reactivate the micro, small and medium enterprises (Mipymes), as part of the economic reactivation policy. 77% of the population is informal and works in small micro and medium enterprises.
An analysis prepared by the consulting firm Gas Energy Latin America (GELA), reflects that gas export revenues in 2019 reached 2.58 billion dollars, while fuel imports (diesel and gasoline) reached 1.42 billion. In 2020, revenues of 1.66 billion expected and expenditures of 558 million, a 36% reduction in the value of sales compared to 2019. In 2025, considering an average oil price of $45 per barrel, revenues from gas sales are projected at $465 million and expenditures from fuel imports at $1.02 billion. A deep reactivation of the sector is proposed, especially in exploration to reactivate gas and oil production. He highlights the potential of the country but considers that the tax system, the structure and the way YPFB organize require reform.
In two weeks the ton of soybeans rose from Bs. 2,000 ($286.9) to Bs. 2,280 ($327.1). Despite the agreements signed with soybean producers, Cochabamba’s dairy, pork and poultry farmers expressed their concern on Monday about the increase in the prices of the product in disregard of the established resolutions and asked government authorities to agree on a single price.
Until August of this year, exports from the department of Santa Cruz totalled $1.31 million. The Santa Cruz products exported to date were: natural gas ($512 million), soybean cake ($324 million) and raw soybean oil ($127 million). The primary destinations were Argentina, Colombia and Peru.
The project of singani Herencia was born in 2008. The enologists discovered that the traditional process of producing singani could be improved not only thanks to the technology incorporated but also thanks to how they make base wine for the distillate. They used 67 kilos of Muscat of Alexandria grapes, using only the core of the cut from the heart of the distillation. Also, it needs to rest for ten years in stainless steel tanks to achieve its excellent organoleptic characteristics. This characteristic positions it as the purest product of the market. The first batch of Herencia has only 3,000 bottles.