Bolivia expects to sign new gas contracts with Brazilian firms, announced the Hydrocarbons Minister, Luis Alberto Sanchez. According to Sanchez, the new contracts will generate more profits than the current one with the state-owned Petrobras. He added that Bolivia will continue to export gas to Brazil and Argentina even at better prices. However, both Brazil and Argentina states have announced that they need fewer volumes of gas.
With 20 projects, Bolivia continues to occupy the second place in financial education in Latin America, according to the Latin American Bank Federation (Felaban). Argentina ranks first while Colombia and Paraguay are in third place. Chile, El Salvador, Guatemala and the Dominican Republic are the countries that show the lowest numbers of financial education initiatives.
Bolivia proposed to strengthen Mercosur to confront the global economic crisis and minimise the impact of trade wars. Within this context, the country seeks the creation of a regional commision to project futures scenarios and to combat problems such as extreme poverty. President Evo Morales arrived this Tuesday in Montevideo, where a summit of the regional integration group is taking place, to raise the proposal. He stated that “n these times where economic problems arise, Mercosur must be more united.”
YLB & ACI Systems were created yesterday by the representants of Bolivia and Germany. Through the joint venture agreement, Bolivia will provide the lithium commodity while the German company will provide the technology to create lithium batteries. The operation will only cover 0.4% of the total area of the Salar de Uyuni that reaches 10,000 square kilometres.
Russian Ambassador in Bolivia, Vladimir Sprinchan, said that his country is interested in importing llama meat and wool from Bolivia. Llama meat has increased its international prestige due to its high level of proteins and lack of cholesterol. The Russian Ambassador said that both products, meat and wool, are of the highest quality.
The Organisation for Economic Co-operation and Development (OECD) lowered its forecast for the global economic growth from 3.9% to 3.5% due to current risks to the global economy. It is the second time in two months that the OECD reviews its projections for global growth. The organisation urged its members to reinforce their cooperation due to the risk of trade wars.
The Bolivian government announced that in the following days it would sign purchase-sale gas contracts with private firms. However, representatives of Tarija and Santa Cruz, the two leading regions for gas production in Bolivia, warned that the country is not in a position to sell more gas to private clients because the output has dropped.
Spain will deliver next week its economic proposal to participate in the construction of a bi-oceanic railway, informed the Minister of Public Works, Milton Claros. Initial estimations of the project suggest an investment cost of at least $US10 billion and a construction period of 5-7 years.
The Governors assembly of the Financial Fund for the Development of the River Plate Basin (Fonplata) approved the modification of its charter to enable the transition from a financial fund to a development bank. The change will allow the incorporation of new partners and the establishment of strategic alliances with other development agencies and banks.
Opec has again lowered its forecast for 2019 oil demand growth in a further sign Saudi Arabia and its partners inside and outside the cartel could be forced to cut supplies to bring the market into balance.