Contraband of alcoholic beverages costs Bolivia $ 220 million per year, warned the president of the National Beverage Chamber (Canabe), Karina Herbas. Each week 2,000 bottles of alcoholic drinks issued illegally are seized in the country.
Bolivia will export its first shipment of quinoa to China through the Peruvian port of Ilo, announced president Evo Morales. Bolivia has a concession in Ilo, and president Morales said that 40 tonnes of the traditional Andean cereal will be sent to China this week. He added that the use of the Peruvian port will help to avoid the delays and problems that Bolivian exports suffer in Chile. Morales stated that although the volume is low, it is the first effort to open the Chinese market.
Cerveceria Boliviana Nacional (CBN) and Embol Coca-Cola were listed as the most prominent firms in Bolivia by MERCO Empresas, an international firm that analyses the reputation of companies in Spain and Latin America. According to MERCO, CBN is the company with the best reputation in Bolivia, followed by Embol. In the area of corporate social responsibility and corporative governance, Embol heads the ranking followed by the Cooperative Rural de Electrificacion (CRE) and CBN.
Public investment in 2019 will decrease by 14.28% in 2019, according to information from the Bolivia Economic Ministry. According to public documents from this institution, in 2018 the state-investment (without considering firms with state participation) would reach $US6.2 billion, but the government programmed only $US5.3 billion for 2019.
The Association of Private Banks in Bolivia (Asoban) released a report which showed that growth levels had slowed down for both loans and deposits. The total loan book reached ca. US$22 billion, while total deposits stood at US$ 24.9 billion. Of note, 60% of new loans YTD were given to the productive sector and social housing.
During the presentation of the book “12 years of Economic Stability Bolivia,” held yesterday at the Udabol, the Deputy Minister of Budget and Fiscal Accounting, Jaime Durán, reported that this year’s investment was $ us 6,300 million of which 40% ( $ 2,520 million) was directed to the three hydrocarbon sectors, electricity and the lithium industry to produce batteries for electric vehicles.
An ANF investigation discovered that Chinese and Colombian companies exploit gold illegally in the Amazon, in the northern department of La Paz and its confluence with the Beni. To do this they partnered with local cooperatives that gave them their extensive land concessions or grids of 25 hectares in exchange for 20% or 30% of what they will obtain from the exploitation.
The split of revenues from the gas industry in the Margarita-Huacaya field is source to a new interdepartmental conflict, between Tarija and Chuquisaca. The Government of Tarija claims that they did not receive US$ 400 million from the proceeds of royalties and the Direct Tax on Hydrocarbons (IDH) because YPFB did not take into account the interdepartmental limits.
The Bolivian Central Bank’s international reserves are down to US$8.5 billion, the lowest in 9 years
The head of the BCB, Pablo Ramos announced that international reserves would reach US$9 billion at year-end 2018, up from the current US$8.5 billion reported in mid-November. The Minister for the Economia had previously showed numbers indicating that reserves stood at US$10.3 billion at year-end 2017.
Opic, the US’ government’s development finance institution will invest $800 million to develop projects in Argentina. From this amount. $350 million will be allocated to the construction of a gas pipeline linking Neuquén and Rosario. This will thus allow the northern part of the country to be supplied by the production coming from Vaca Muerte, thereby replacing Bolivian gas.