Mining operators in Bolivia have to pay their 2019 and 2020 patent, or they risk to lose their concessions. The license is an annual legal requirement through which mining operators pay in advance to carry out their activities.
Civic organisations declare themselves in a state of emergency due to government authorization to intervene in national parks. The measure aims to revert government plans to develop oil and infrastructure projects on different protected areas in the country.
Bolivia’s President Evo Morales will travel to the United Arab Emirates to attend the 9th Annual Investment Meeting (AIM) 2019 on April 8. The AIM is a global event that gathered international investors, experts, academics and delegates from more than 140 countries. Its objective is to provide updated information on Foreign Direct Investment as well as strategies and knowledge to attract external capital. President Morales will seek to consolidate agreements with businessmen to attract investments to the country. He will then travel to Ankara, Turkey, to hold talks with President Recep Tayyip Erdogan.
The head of the International Monetary Fund has warned that the majority of countries around the world can expect slower growth in 2019 as the global economy loses momentum. Christine Lagarde said rising trade tensions, concerns over Brexit and tougher financial conditions as central banks raised interest rates had “increasingly unsettled” the world economy over recent months.
Last week Petrobras imposed a fine on Bolivia because during some months of last year the Bolivian state oil company (YPFB) sent only 22.6 million cubic meters (mcm) of gas when the demand was 26 mcm. The Gas Supply Agreement (GSA) signed with Brazil in 1996 – that expires this year- establishes a minimum purchase volume of 24 mcm of gas and maximum delivery of 30.08 mcm. If 1.5 mcm of fuel gas were included, a total of 31.5 mcm should be sent.
“A multi-point agreement has been signed, including the exploitation of Bolivian lithium, due to India’s interest in buying lithium carbonate, as well as a possible partnership to build a lithium-battery plant in India, ” announced Bolivia’s state lithium company (YLB) CEO, Juan Carlos Montenegro. The idea of the lithium-battery plant is still in a macro plan that should be worked on in the coming months.
An increase in the world demand of lithium batteries is foreseen for the coming years, mainly in Asia, announced Bolivia’s state lithium company (YLB) director, Marco Kucharski. Only China plans to manufacture between 200 and 500 million electric vehicles, a trend that would benefit Bolivia who has one of the world’s largest lithium reserves. He also emphasized that the electronics and chemical sectors will be important consumers of the mineral, taking into account that planes today use a lithium-titanium alloy to perform operations.
The Economic Commission for Latin America and the Caribbean (ECLAC) raised the growth projection for Bolivia from 4.3% to 4.4%, which means that the country will head the list of nations with the highest growth in the region, in 2019.
President Evo Morales confirmed yesterday, that the Government of India is willing to invest U$D 13 billion in Bolivia’s hydrocarbons sector. The statement was announced during an act in the city of Cobija, Pando.
The Head of State referred to this achievement after the first meeting he held with the President of India, Ram Nath Kovind, in the city of Santa Cruz, on March 29.
During the meeting between the two leaders, a Joint Declaration was approved and eight complementary agreements were signed, that will benefit both countries. According to Morales, the areas covered the health, lithium and hydrocarbons sectors.
Bolivia had a trade surplus of more than US$500 million with India in 2018, said the CEO of the Bolivian Foreign Trade Institute (IBCE), Gary Rodríguez. Exports to India increased significantly since 2007. “Bolivia sold U$D 723 million and imported U$D 152 million, therefore the surplus reached U$D 517 million. We expect this kind of relationship in the country to shore up our International Reserves in the BCB.”