As of June of this year, according to the Monetary Policy Report (MPR) 2020 of the Central Bank of Bolivia (BCB), the balance of Bolivia's public foreign debt amounted to US$11.3 billion, 28.4% of GDP. However, loans of $7 billion negotiated with the Inter-American Development Bank (IADB) and the World Bank would increase the ratio to 46% of the GDP, which is above the threshold recommended by these institutions and close to the 50'% recommended by CAF.
The fire entered the forest management area of the El Tuna concession and threatens to destroy the stock of harvested wood - more than 1,000 logs - from last year's and this year's harvest. The productive sector says that the stoppage of operations limits access to and supply of raw material. The affected forest management area totals 80,672 hectares.
The Minister of Economy and Finance, Branko Marinkovic, today appointed Agustín Saavedra Weise as the new president of the Central Bank of Bolivia (BCB). The new head of the Central Bank was Minister of Foreign Affairs. He held high positions in the private sector, was general manager and chairman of the board of several companies.
More than 1.8 million hectares in the Madidi and Apolobamba national parks, in the north of La Paz, are consumed by fires. The Government will use a Boeing CH-47 Chinook helicopter, that arrived last night in Santa Cruz, to fight the wildfires. The situation is getting worse all across the country, with fires reported in the Guarani communities of Machareti in Chuquisaca, as well as in Tarija's Chaco region and in Iténez Park in Beni.
The GEES, Clean Energy and Associates Consortium will invest $42.2 million in the construction of a reliable waste treatment and processing plant in Cochabamba. It will become the first city in the country to industrialize garbage to generate energy and eco-fuels, and it estimates that it will create more than 400 direct jobs.
Eighty-five per cent of educational businesses are at risk of closing their doors because of reduced revenues due to school closures and the economic crisis that deepened the pandemic. More than 2,000 academic units may cease operations due to lack of income and low enrollment in virtual classrooms. Many schools have had to reduce teaching and even administrative staff.
Between phase I and V of the Rural Electrification Project, the Government of Cochabamba invested more than $36 million, financed with external credits and own resources. These projects were carried out in 39 municipalities and benefited more than 38 thousand families. For this reason, it asks that Elfec continue to be a state-owned company. The networks were given as a commodatum to ELFEC.
Despite the increase in activities aimed at controlling forest fires and the declaration of national disaster, the fire is spreading through eight of the nine departments, affecting 1.7 million hectares. In Santa Cruz, there are cattle at risk. Thirty-three per cent of the fires are in forests, a situation that increases the negative consequences for biodiversity.
The Bolivian economy will fall this year by 7.9%, but in 2021 it will recover and reach a growth of 5.6%, according to the updated projections of the International Monetary Fund (IMF) which also forecasts a drop in unemployment in the country. The international organization foresees an inflation rate of 1.7% this year and 4.1% next year and an unemployment rate of 8% this year, which will fall to 4% in 2021. It also projects one of a current account deficit of 2.6% this year and 3.5 in 2021.
The latest report published by the National Institute of Statistics (INE) indicates that the construction sector was the hardest hit by the health emergency caused by the pandemic. The data shows a contraction of 11.11% in this area.