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LatinNews Daily - 21 October 2020

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In brief: Arce outlines economic priorities in Bolivia

*Luis Arce, set to be named the victor of Bolivia’s 18 October presidential election, has outlined his immediate economic priorities upon taking office in November. Arce’s first act, he said, will be to pay a B$1,000 (US$145) ‘subsidy against hunger’ to every citizen, to support the population against the economic impact of the coronavirus (Covid-19) pandemic, and to boost domestic consumption in order to help reactivate the economy. The subsidy was approved by the legislature (controlled by Arce’s party, Movimiento al Socialismo) in September, but the interim government led by Jeanine Áñez had refused to pay it. Other urgent priorities, according to Arce, will be negotiating the suspension or cancellation of debt owed to international organisations, and the implementation of an emergency tax on the country’s highest earners, both of which are intended to help finance his emergency spending plans.