Bolivia’s National Customs Service reported yesterday that it is preparing a tax amnesty to recover a $532 million debt.
The European Union (EU) on Monday donated EUR 27 million ($29.2 million) to Bolivia to strengthen the fight against drug trafficking and enhance water and sanitation in the country.
Bolivia’s financial system profits in 2019 and grew by $328.6 million, the Financial System Authority (ASFI) reported. Although people made several moves during the October and November conflicts, the public continues to rely on banking.
The Ministry of Productive Development is driving new opportunities for Bolivian exporters and seeks to open up markets in Europe and the United States, building on new trade agreements. Currently, Bolivia exports 345 products of more than 5,000 possibilities to the European Union and the situation is similar to the United States. Exportable products would be derivatives of camelids, quinoa, Amazonian fruits, wine products and non-metallic minerals.
The National Tax Service (SIN) reported that tax collections in January of this year grew 2.8%, compared to the same month in 2019, reaching $388 million. According to the SIN, the increase was the recovery of sectors such as hydrocarbons and mining.
State oil company YPFB loses about $60 million per year from the operation of the natural gas liquefaction plant (LNG), according to estimates made by the consultancy Gas Energy Latin America (GELA). To date, the infrastructure operates on average 10% of its installed capacity. It is a 10 million cubic foot (MMpcd) liquefaction plant (MMpcd) and 33 regasification stations in remote populations in Bolivia, costing about $250 million.
Sales to Bolivia from the Iquique Free Zone (Zofri) in northern Chile fell by 20% in 2019. Data published by Zofri on its website shows that, in 2018, Bolivia bought goods worth $617 million, while last year sales reached $494 million.
he Bolivian Stock Exchange (BSE) moved $1.8 billion in 2019, a figure lower than 30% than in 2018, due to the uncertainty generated by the cancelled elections of October 20 and more inferior liquidity in the market. However, demand for companies seeking to finance the public stock exchange grew; $550 million placed in new broadcasts in 2018 and $750 million in 2019. The outlook for 2020 is to reach $12 billion traded.
On Indigenous territories in Bolivia that have secured property rights, deforestation rates are 2.8 times lower than outside of them. Such lands cover 20% of the country’s territory, so the contribution of Indigenous peoples in Bolivia to fighting climate change is substantial. Source: Phys
The Government set for this year, a contribution of between 2% and 4% of the profits of the financial institutions to the Guarantee Funds for productive loans and social housing. Within this framework, these funds already have $US 427 million. By 2020, commercial banks will contribute with 2% of their 2019 profits and SMBs banks will contribute with 4%.