Bolivia Secures IMF Deal Amid Economic Crisis
The three-year program could unlock more than $5 billion in additional financing and requires approval from the IMF board and Bolivia’s Congress.
- On Wednesday, The International Monetary Fund reached a staff-level agreement with Bolivia on a $1.9 billion financing program to stabilize the country's economy facing its deepest crisis in decades.
- Bolivia faces economic collapse driven by declining natural-gas production and fiscal deficits exceeding 10% of GDP. President Rodrigo Paz implemented austerity measures, including cutting fuel subsidies, but triggered protests earlier this year.
- While lower than the government's expectations of $2.5 billion to $2.8 billion, the IMF stated the deal could catalyze more than $5 billion from the World Bank and other multilateral lenders.
- Funding aims to rebuild foreign reserves and ease a dollar shortage constraining imports and fueling inflation, yet the program requires approval from Bolivia's Congress, where IMF borrowing remains politically sensitive.
- If approved, this would mark Bolivia's first multi-year IMF arrangement since 2006. The IMF's Joana Pereira said the program is designed to "back these efforts, rebuild resilience, and help put the economy on a job-rich and sustainable growth path.
14 Articles
14 Articles
Associated Press News
Santa Maria TimesLA PEACE, Bolivia (AP) — Bolivia reached an agreement with the International Monetary Fund (IMF) through which it will obtain a $1.9 billion credit to support the economic reform program promoted by President Rodrigo Paz's government.
Bolivia and IMF reach $1.9 billion loan agreement, political hurdles remain
The International Monetary Fund has reached a staff-level agreement with Bolivia on a $1.9 billion financing program, the IMF said on Wednesday, as the country seeks to stabilize an economy facing its deepest crisis in decades.
Bolivia Secures IMF Deal Amid Economic Crisis
Bolivia and the International Monetary Fund (IMF) have reached a staff-level agreement for a $1.9 billion financing program. The deal, pending approval, aims to stabilize Bolivia's economy by rebuilding foreign reserves and addressing fiscal deficits. Economic reforms under President Rodrigo Paz are crucial for the agreement's success.
Buenos Aires, 29 July (NA) -- Bolivia and the International Monetary Fund (IMF) reached an agreement at the technical level to implement a 36-month program for $1.9 billion aimed at supporting the economic reform plan of the administration of President Rodrigo Paz Pereira, reported on Wednesday the Ministry of Economy and the multilateral agency. The understanding is still subject to approval by the IMF Executive Board and compliance with the pr…
If fully approved, the agreement would mark the first agreement for more than a year with the IMF since 2006
Bolivia and the International Monetary Fund reached a technical agreement for an economic program of 36 months, with a possible financing of about 1.9 billion dollars that still needs to be approved by the Executive Board of the international organization. Economist Gonzalo Chávez, in his Facebook account, analyzed the announcement and pointed out that the agreement opens a new stage, but remarked that the specific conditions and the fulfillment…
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