Bolivian Economy’s Headwind Frightens Opposition

By Jorge Petinaud
La Paz, Feb 12 (Prensa Latina) Bolivia’s economic-political headwind and stability under President Evo Morales frightens the opposition in an election year, in which its candidates only demand exclusion from the ballots, without making a country proposal.
We all know that Carlos Mesa, Oscar Ortiz and Luis Revilla do not like Evo being on the election race, we know that; but the interesting thing would be that they start telling us what they are going to do with the country in case they govern, because in October there is no new referendum, in October there are general elections where employment policy, health policy, economic policy are going to be defined,’ warned recently the young minister of Communication, Manuel Canelas.

What is certain is that the improvement in quality of life of all sectors in Bolivia, the political and social stability of the country and the economic successes recognized by international organizations grant ample favoritism to the binomial of the Movement for Socialism-Political Instrument for the Sovereignty of Peoples (MAS-IPSP), integrated by Morales and the vice-president, Alvaro Garcia Linera.

Only through the Bolivia Change Evo Complies program, a total of 8,797 works were executed between 2007 and July 2018 in the areas of education, sports, roads, production, basic sanitation and irrigation, as well as social and health infrastructures.

The South American nation also became the region’s leader in economic growth as a result of the nationalization of its natural resources.

Bolivia’s gross domestic product (GDP) was 9.574 billion dollars in 2005, and in 2018 closed at more than 40 billion dollars, while the plurinational state’s economic growth rate was 4.7 percent, one of the highest in the continent, according to international organizations.

A recent report by the Economic Commission for Latin America and the Caribbean confirms that the Andean country achieved these indicators with a debt to GDP ratio lower (33 percent) than the region’s average (41 percentage points).

Coincidentally, Economy Minister Luis Arce put Bolivia’s January inflation rate at 0.23 percent, a figure that shows that it is an absolutely controlled indicator that predicts a gradual improvement in this area.

According to Arce, the projection of economic growth in 2019 forecasts a boom of 4.7 percent and a GDP of 44 billion dollars, the highest in the country’s history.

Referring to the net international reserves (NIR) of the Plurinational State, the minister described them as ‘high’ and stressed that they are among the top of Latin America and the Caribbean in relation to GDP.

Arce explained that the drop in the NIR balance last January, of two points out of 100, was less than the fall recorded in neighboring countries such as Chile (2.3 percent) and Paraguay (2.1 percent).

The Financial System Supervisory Authority, meanwhile, assured that the liquidity of this national system closed in December 2018 at 56.668 billion bolivianos (above US$8.13 billion), a figure sufficient to maintain the dynamics of the credit portfolio. This situation allows Bolivia to undergo an accelerated and uninterrupted industrialization process with multimillion-dollar investments in the iron, lithium, cement and agricultural sectors, whose export volume is increasing.

Another undeniable achievement of the government of the first indigenous leader that the people recognize is the recovery of self-esteem, dignity and national pride with laws that make all Bolivians equal before the law.

All these realities make the favoritism of the Morales-García Linera binomial to win the October elections more visible every day, as well as the efforts of the opposition party of neoliberalism and the alignment with the continental policy of the United States with the objective of vetoing by any means the candidacy of the aspirants of the MAS-IPSP.


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