Until November this year, Bolivia’s external debt reached $US9.8 billion or 24% of the GDP. The president of the Bolivian Central Bank, Pablo Ramos, insisted that the government has still room for manoeuvre. The current debt is one of the highest in the last ten years and has increased by more than $US2 billion since December 2017, when it reached $US7.26 billion. The debt is also higher than the current International Reserves, which by the end of October were in $US8.5 billion.
The credits providing by the financial sector rose 12% between January and October, informed the Vice-minister of Pensions and Finance, Omar Yujra. In the first ten months of this year, added the authority, the credits in the financial system grew from $US21.7 billion to $US 24.2 billion, while deposits increased from $US22.7 billion to $US23.9 billion.
“2018 will close with a “”solvent”” financial system with bad loans representing only 2% -one of the lowest in Latin America- declared the director of the Supervisory Authority of the Financial System (ASFI), Ivette Espinoza.
The number of debit cards in Bolivia reached 4.6 million by September this year, 13% higher than the number registered in the same period of 2017, reported the Supervisory Authority of the Financial System (ASFI).
Mobile transactions in the financial system until September this year reached Bs.1,186 billion, 39% higher than the operations registered in the same period of 2017, reported the Supervision Authority of the Financial System (ASFI).
Due to a high demand bureaus exchange in La Paz were left without dollars for selling to the public. The incident occurred a week after the Bolivian Central Bank decided to close the sell of the US currency through its windows.
Bolivia’s external debt reached $US 9,830 million in the first nine months of 2018. The amount of debt increased 11% from the same period in 2017.
Bolivian Central Bank’s president, Pablo Ramos, stated that the country’s international reserve fall because they are being use to face difficult times. The BCB’s international reserves reduced from $US10.2bn at the end of 2017 to $US8.6bn by the 26 October this year.
There are currently 80 companies that finance their activities through the Bolivian Stock Exchange. The annual value traded on the BBC increased in the last four years from almost $US10 bn to $US12.8 bn.
According to the Bolivian International Trade Institute (IBCE), Gary Rodriguez, public-private partnerships such as the construction of the international ports Jennefer, Aguirre and Gravetal on the Paraguay-Paraná waterway -which provides Bolivia access to the Atlantic Ocean- can have a significant impact on the country’s economic growth that could reach from 4.5% to even 9%.