The departmental prosecutor of La Paz, Williams Alave, today requested that the Financial System Supervision Authority (ASFI) to report whether it was aware or informed that the BCB carried out in October and November of this year, different movements of money or securities; and if it’s obvious, the relevant documentation is attached.
The Bolivian Private Banking Association (Asoban) revealed that they are predisposed to support and meet the requirements and needs of their clients, and help to overcome the difficulties that individuals and businesses might be going through to meet financial obligations.
Bolivia’s International Reserves decreased from $8.9 billion, as of December 2018, to $7.4 billion on October 11. This is the lowest level in 11 years. Former President of the Central Bank of Bolivia (BCB), Juan Antonio Morales, warns that stocks can still fall if the country’s fiscal deficit and current account deficit does not get under control.
Until September, Bolivian banks issued $1.925 billion on the local stock exchange. That represents an increase of 55.67% since 2015. Two analysts believe the sector is facing liquidity problems.
Bolivia’s financial system is solid and solvent, said international finance consultant Jaime Dunn. He warned, however, that a climate of political and social uncertainty will affect Bolivia’s liquidity and generate further disqualification.
The Financial System Oversight Authority (Asfi) reported on Friday that over the past nine years, funding towards women increased by 304%, ranging from $1.6 billion in 2010 to $6.5billion until August 2019. Asfi points out that today women account for nearly 40% of the system’s borrowers, thus closing the gap between men and women having the same access to financial services.
After the waiting compass set out on Friday and nine days of blockades, soybean-producing organizations in the region open dialogue with staff of the Financial System Supervisory Authority (ASFI) and financial entities (Banco Unión and BDP) to reschedule and refinance credits.
Bolivia’s international reserves grew to $8.3 billion thanks to Brazil’s $55 million payment for the concept of gas sales, report Bolivia’s Central Bank (BCB). BCB’s president, Pablo Ramos, said that the country’s net international reserves are largely nourished by natural gas exports, but also from other sectors, such as gold, whose price recorded an increase in the international market.
Bolivia’s external debt dropped to 23.5% of the Gross Domestic Product (GDP) by April this year, announced the Economy Ministry. By the end of 2018, Bolivia’s external debt represented 25.1% of its GDP. The total amount of the debt grew from $4.9 billion in 2005 to $10.3 billion by the end of April 2019. In the same period, Bolivia’s GDB grew from $9.6 billion to $40.6 billion.
Standard & Poor’s projected Bolivia’s economic growth by 4% for the period 2019-2022. The rating agency also kept Bolivia’s qualification in BB- with a stable outlook in a complex international economic environment where countries like Costa Rica, Nicaragua and Argentina have seen their risk rate decreasing in the last six months. S&P economic projections for Bolivia coincide with those of other international organisations such as the IMF (4%), ECLAC (4.3%) and the World Bank (4%).