The World Bank (WB) modified today its recession projection of Bolivia's economy, and for this year it foresees a 7.3% fall of the Gross Domestic Product, due to the (GDP) pandemic of the coronavirus and the fall of the international price of oil. In his previous forecast, in June, he calculated a fall of 5.9%.
The Banco de Desarrollo Productivo (BDP) through its business line "Jefa de Hogar BDP" would be financing 4,429 women's projects throughout the country. At the end of September 2020, more than Bs 271 million ($38.88 mn) disbursed thanks to the acceptance of the product among women who carry out productive activities and seek to improve or expand their production unit.
The National Service of Protected Areas (Sernap) declared a red alert in the Kaa Iya National Park and Integrated Management Natural Area (IMNA) of the Gran Chaco, Tarija, in the last hours due to forest fires. According to the latest report from the National Command of Incidents, 39 municipalities, in six departments: Santa Cruz, Beni, Chuquisaca, La Paz, Tarija and Cochabamba, are affected by the fires.
Yesterday, the Forestry and Land Social Control Authority (ABT) proceeded to seize a truck carrying 12,000 board feet of illegal wood. According to Forest Law 1700 and Law 337, the confiscated wood must auction or direct sale immediately.
The government is negotiating a $7 billion loan from the World Bank (WB) and the Inter-American Development Bank (IDB), which will finance projects starting next year. If this amount is approved, the foreign debt will rise to about 44% of the GDP next year.
The active lines of mobile telephony reach 11.68 million, according to the report State of the Telecommunications in Bolivia. For the first quarter of 2020, active lines register a decrease of 0.03% concerning December 2019. Revenues from local telephone service registered a value of Bs 343 million ($49.21 mn) in 2019, 4.72% less than in 2018.
The Central Bank of Bolivia informed that due to complications derived from the Covid-19, President Guillermo Aponte Reyes Ortiz prevented from resuming his functions as the first authority of the Institution. Armando Pinell, Vice President of the Board, replaces him, with all the powers conferred to the President, according to Article 63 of Law 1670 of the BCB.
Faced with almost 1.4 million hectares burned in six departments and the increase in heat sources, the Government declared yesterday a national disaster due to fires and droughts in Bolivia. Now, the Government looks for international aid.
San Cristóbal, the largest mine in the country, reported last year a net profit of 51 million dollars, 30 million dollars more than in 2018, according to the Sustainability Report 2019 published by the Japanese firm. In its report, it also points out that for its operations in Potosi it paid in taxes 401 million dollars.
The World Bank (WB) warned that up to 115 million people might fall into extreme poverty in the world by 2020 due to the crisis-induced by Covid-19. The institution estimates that the economy will contract by 5.2% in 2020, the largest drop in GDP in 80 years. Latin America, a region where more than 650 million people live, the rate of extreme poverty would go from 3.9% in 2017 to 4.4% at the end of this year, reaching a total of 28.6 million people.