Heavy transport slowly recovering to 200 trucks per day

From the second week of March until mid-June, the flow of trucks crossing the border with Chile fell, on average, from 350 to 70 per day. In the last two weeks of June and so far this month, the number of trucks climbed to 200 due to the resumption of foreign trade in sugar, soybean and oilseed derivatives, such as soybean flour and cake, and crude, vegetable and sunflower oil. The crisis and substantial sanitary restrictions in Chile condition the mobilization of import goods.

Remittances grew by 72% compared to April

According to data from the Central Bank of Bolivia (BCB), shipments grew by 72% compared to April. The increase is significant if we take into account that during the first quarter of this year, the flow of these resources fell to 27.85%. The recovery is due to the relaxation of the isolation measures, in the countries where the most significant amount of resources arrive: Spain and the United States. Up to 40% of remittances come from Spain, while 21% of transfers come from the United States.

Vinto looks for partner to pay off $80 mn debt

Empresa Metalúrgica Vinto could partner with an international mining company to pay off its debts for the Huanuni and Colquiri mines. The amount Vinto needs to meet obligations is $80 million, but initially the future partner will have to contribute $40 million.

Bolivian banks reprogrammed 51% of their loan portfolio and defaults rose 6%.

Between January and May 2020, the national financial system’s defaults rose by 6 percent and loan portfolio rescheduling increased by 51 percent compared to the same period in 2019, reported the executive secretary of the Association of Private Banks of Bolivia (Asoban), Nelson Villalobos. The post-election crisis of October and November last year, and the coronavirus pandemic are the causes of these changes.

Government appoints new Minister of Economy

President Jeanine Añez appointed former Senator Óscar Ortiz as the new Minister of Economy. Ortiz, who was the Development Minister, replaces Jose Luis Parada, who was appointed on Nov. 13, 2019. Ortiz explained that his main tasks in office will be to maintain economic stability and create jobs.