LatinNews Daily - 08 December 2020

* Bolivia’s economy ministry and central bank (BCB) have jointly published an annual financial review in which it is projected that the country’s economy will contract by 8.4% in 2020 – an improvement on the 11.1% contraction previously forecast – with a fiscal deficit equivalent to 12.3% of GDP, and total inflation of 1.1%. Economy Minister Marcelo Montenegro highlighted the substantial economic impact of the coronavirus (Covid-19) pandemic, but accused the interim administration led by Jeanine Áñez (who left office in November) of contributing to this decline through “economic mismanagement”. In particular, Montenegro highlighted the suspension of investment in state-owned companies and development projects, noting that as of October, just US$1.1bn (25.2%) of the US$4.4bn earmarked for this purpose had been spent. He pledged to “reactivate and improve public investment”, so that “the productive activity of the country can rescue the economy”.

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