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Latin American Economy & Business - July 2013 (ISSN 1741-7430)
Bolivia: What is a banking system for?
The Banco Central de Bolivia (BCB-the central bank) is by some measure the largest provider of development finance in the country. It appears that the pending new Financial Services Law will also require Bolivia's commercial banks to extend credit for social purposes, and at interest rates that are determined by the government - and not market forces. In practice, though both the commercial banks, and the government especially, are in a formidably strong financial position. This means that the radical left-wing administration led by President Evo Morales, which has already been successful in reducing extreme poverty in Bolivia, is very well placed to undertake unorthodox policies.
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