July 7, 2023, 1:46 PM
July 7, 2023, 1:46 PM
Marcelo Montenegro, Minister of Economy and Public Finance, explained the importance of the international credits for the country’s economy and reported that, during the administration of the president Luis Arce, external indebtedness had a rate of $us 58.4 million per month.
“But borrowing itself is not bad. What the indebtedness does is generate resources to be taken to investment projects or replacement of expenses that the national government did at the time”, remarked Montenegro.
The authority pointed out that approved $500 million and He reiterated that the national economy requires these resources because they are established and programmed in the General State Budget (PGE).
“It shouldn’t be any admiration and say ‘oh, I know they are borrowing more’. What should draw attention is that, as long as it is not disbursed in a quick and timely manner, the PGE is no longer effective and the continuity necessary for investment projects and the economic development of the country”, he pointed out.
Regarding the resources that still need to be approved by the Legislature, Montenegro pointed out that today (July 7) the Chamber of Deputies must treat and analyze a credit of $us 327.4 million.
On data disclosed by the Central Bank of Bolivia (BCB) about the International Net Reserveswhich reach $3,158 million only as of April 2023, and when asked why reports are not up to date to date, the minister responded that the BCB is responsible for providing said information in the time it deems so.
“We are respectful. The BCB is in its law”, Montegro said in time to emphasize that the Ministry of Economy and Public Finance does not have the power to show the characteristics of the reserves, since those numbers correspond to the BCB.
Regarding the lack of dollars in the country, Montenegro indicated that this issue will be resolved soon. He said that the drained of foreign currency, since November 2022, by fassil bank, had its impact, but that the regulation of the gold law, the income of foreign currency from the third quarter of 2023 for the export of lithium carbonate, and the savings of dollars for the national production of steel bars in the Mutún steel industry , will make more dollars available in the financial system.
