Bolivia looks to guarantee that it has enough cobalt reserve to ensure the production of lithium batteries in the country. Cobalt, next to lithium, is a key component for the production of lithium batteries. Government representatives have recently inspected San Luis Mine in Potosi to ensure that the country has enough reserves of cobalt, so the production of lithium batteries in the country can go ahead.
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.
“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).
“Bolivia received $US942.6 million for remittances sent between January and September. The money posted by Bolivian residents increased by 0.2% compared to the same period in 2017, according to a report from the Bolivian Central Bank (BCB).
Bolivia and Brazil look to renew its current gas sale contract with the addition of electricity. The current gas contract, signed in 1996, will end next year and a bilateral commision already start working on the terms of the new energy agreement, said the Brazilian ambassador in Bolivia, Raymundo Santos. Brazil is the main destiny of Bolivian gas exports.
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.
President Evo Morales inaugurated a hybrid solar plan in the locality of El Remanso in Beni. The project required an investment of $US1.37 million. The plant has 524 solar panels and 144 batteries, explained Gerardo Lozada, general manager of Enersol, the company that built the plant.
The Indigenous Development Fund (IDF) invested more than BS. 70.6 million in productive projects in 14 local governments in Beni, said Bolivia’s Rural Development Minister, Cesar Cocarico.
Bolivia’s entrepreneurial base grew 5.6% during the first nine months of this year, from 295,829 to 312,471 companies. 80% of this companies are sole traders, according to a report from the Foundation for Business Development (Fundempresa).