Ichilo-Mamoré Waterway project will require an investment of $120 mn for the next 4 years

The project to reactivate the Ichilo-Mamoré Waterway and connect Bolivia to the Atlantic Ocean will require an investment of $120 million over four years, according the the local government in Cochabamba. The project aims to connect Cochabamba with the departments of Beni, Pando y Santa Cruz and from ther to Brazil, Peru and Paraguay to open the Atlantic Ocean to Bolivia.

Daily gas production in October reached 49 MMm3

In October of this year, the country's average daily production of natural gas reached 48.84 million cubic meters (MMm3). Due to the addenda signed by Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) with the state companies of Sremtina and Brazil, Bolivia sells approximately 16 to 18 MMm3d of natural gas to the Argentine market and about 14 MMm3d to Brazil. If current production volumes are maintained, the flow delivered next year by the Boycobo Sur-X1ST well (initially of one million cubic metres per day) will reach 2% of the total.

CAF and European Investment Bank to co-finance climate action projects for $500m

The CAF - Latin American development bank - and the European Investment Bank (EIB) signed a collaborative co-financing framework for European support to Latin America and the Caribbean to alleviate the damage of the Covid-19 pandemic and promote post-pandemic economic recovery. The agreement proposes a USD 500 million co-financing framework to benefit sectors such as … Continue reading CAF and European Investment Bank to co-finance climate action projects for $500m

YPFB asks to reduce up to 28% its gas shipments to Argentina in a new addendum

Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) informed the neighbouring country's energy sector authorities that it is in a position to guarantee a gas supply of 13 and 14 million cubic metres per day (MMm3d) during the winter season, i.e. approximately 28 per cent below the volume established in the current addendum, which expires on 31 December.

Latin American transaction market falls by 4% to November 2020

In November of this year, mergers and acquisitions, between announced and closed, added up to $8.04 billion, according to the latest Transactional Track Record report published by America Economia. Between January and November 2020, there have been 2,035 mergers and acquisitions, between announced and closed, for an amount of $61.76 billion. It implies a decrease of 14.03% in the number of operations, and a reduction of 48.45% value, concerning November 2019.

Argentina takes over the presidency of Mercosur and plans to incorporate Bolivia fully

Today Argentina assumed the pro tempore presidency of the Southern Common Market (Mercosur) and put on the agenda the full incorporation of Bolivia into the regional bloc. In 2013, Bolivia began the process of joining Mercosur as a member with full rights, an application that had to be accepted by the congresses of the four countries that make up the bloc (Argentina, Brazil, Paraguay and Uruguay). The only thing missing is the endorsement of the Brazilian parliament.

Ecuador lows banana sales to Argentina and Bolivia takes advantage

Ecuadorian banana exporters have reduced the shipment of the fruit to Argentina. It favours Bolivian producers who have increased exports by 35 per cent; the price also rose from $2.80 to $3.40 per box. Currently, producers send 1.9 million kilos of bananas per week to Argentina. In the first half of 2020, the economic crisis aggravated by the Covid-19 pandemic caused the Argentine market to decrease the purchase of national bananas by approximately 70 per cent, and a financial loss of $21 million was estimated.

The Government proposes that the European Union manage foreign debt relief

This Monday, Foreign Minister Rogelio Mayta proposed that the European Union implement a programme to suspend the commitments of developing countries for two years. The initiative raised by the national authority at the Conference of Foreign Ministers of the European Union and Latin America and the Caribbean, which took place in Germany. The authority's proposal goes further and suggests that the international body could set up a credit fund financed by donors. Bolivia's external debt has increased fivefold in 12 years.

ECLAC forecasts a drop of between 45% and 55% in foreign investment in Latin America by 2020

Foreign direct investment (FDI) in Latin America and the Caribbean will fall between 45% and 55% in 2020, as a result of the crisis caused by the COVID-19 pandemic, said the Economic Commission for Latin America and the Caribbean (ECLAC). Globally, foreign direct investment amounts would drop by 40% in 2020, and from 5% to 10% in 2021. In this way, in 2021, FDI would reach its lowest value since 2005.