The Minister of Public Works, Edgar Montaño, announced the investment of more than Bs 6.722 billion ($975.89 million) and the construction of 35 new roads to strengthen connections between different parts of the country. The resources for the road works will be executed with a final design over a period of five years, he said.
Bolivia signed a gas sales contract with Petrobras that improves the price by 51% over the eighth addendum signed in March 2020. Bolivian President, Luis Arce Catacora, stated that the country will receive $25 million in two months as a result of this new contract.
Heavy rains and overflowing rivers in Santa Cruz caused producers to lose more than 8,000 hectares of soybeans, representing more than 160,000 tonnes; the economic impact estimated by those affected is more than $3.5 million.
The bill for the partial or total refund of contributions from the pension administrators (AFPs) is expected to reach at least 1.6 million people, but when they withdraw the money, their pensions will probably suffer a deterioration, warned the Minister of Economy, Marcelo Montenegro. The government expects that the measure will inject at least $500 million into the market.
Bolivia will invest $279 million in building ecological diesel and biodiesel plant to reduce imports of liquid fuels, Hydrocarbon and Energy Minister Franklin Molina announced. It is estimated Bolivia will spend between $1bn and $1.2bn importing diesel in 2021 for domestic supply.
Bolivia closed last year with a trade deficit of 65 million dollars and a drop of 1.91 billion dollars in exports, compared to 2019, according to the National Statistics Institute (INE). Last year, the country exported $7.01 billion, down 21.4 per cent on 2019 when sales reached $8.92 billion.
The rains have affected some 9,000 hectares of soybeans in the municipalities of Yapacaní, San Pedro, Fernández Alonzo, San Julián and El Puente. Source: El Deber
Bolivia has been going through the second wave of infections from the new coronavirus since the end of last year, with more than 2,000 cases a day, something that had not happened since July and August, even exceeding that first stage. The latest data from the Ministry of Health show 2,655 new infections, which raises 193,745 confirmed cases with a curve that shows a marked rise in positives for days in this country, of about eleven and a half million inhabitants.
Faced with the effects of Covid-19, insurance companies are limiting underwriting and applying greater rigour in the sale of life insurance. In a scenario marked by many deaths, the value of premiums in some cases tripled. The National Tax Service (SIN) issued a regulation increasing the Corporate Income Tax (IUE) from 25 to 50 per cent for companies in the financial sector.
Silver Elephant Mining Corp announces that a 2,300-meter drilling program has commenced at its 100% owned Sunawayo silver lead zinc project ("Sunawayo") in central Bolivia. It is the first-ever drilling campaign in history at Sunawayo, acquired by Silver Elephant in September 2020. Since that time the Company has collected over 900 samples along an 8 km strike length. Over 86% of those samples returned silver assay results grading from 1 g/t to 458 g/t. These results demonstrate extensive near-surface silver mineralization at Sunawayo.