Daily Archives: October 3, 2012

Are your savings (remittances) safe? Is the TIPNIS safe? Is ‘evo cumple’ safe?

Today I want to share three main issues that we must be aware of:

Remittances – Savings: Most Bolivians working abroad, do have a serious commitment, to send their income to their families back home. To cover loans, build up a house and for daily expenses. Hard labor, working stressed with the phantom of deportation, you manage to send your salary to those you love. Well, be aware that where you deposit back home is crucial, so you don’t lose it all. There are solid banks in our country, so use them, may pay you less interest but is safer that way. Most of the people go after the best interest rates possible, at savings or time deposit accounts. So, they end up saving in a cooperative… have you read about ‘Cooperativa de Ahorro San Luis’? It is not the only one under scrutiny, the following article explains a little bit. 67 coops are under investigation:


However, do not trust the governmental agency, they are not that good. Their director around end of this August, called to a meeting the four most solid banks in Bolivia, and asked them $10 million each to cover the loss of San Luis?!! telling them the system [banking] is in jeopardy and since they have good profits, the banks should pay the failure. Back in 2009 this agency knew that San Luis was not working properly… and waited until this catastrophe! Of course, the banks said no, ASOBAN met the Finance Minister on September 4 and send a letter on the 5th, asking about this not-congruent and ridiculous request [she must have seen the movie when the US gov asks the bankers to save one them from bankruptcy and she also leaves the room!! quite a character, really something!!]… until today, that person remains in the job and the minister said nothing… So, if you have savings, please use the appropriate banking system, most coops offer large interest rates and they do not belong nor do they report as a banking institution, so beware. All this info became public news last night at Carlos Valverde’s TV program.

Is the TIPNIS safe? Certainly is not, the government relentlessly is pushing to cut in half the TIPNIS indigenous territory and OUR Isiboro Secure National Park. Lately, current government tried to push a consultation inside the park, well after what the laws demand such mechanism should take place. Now, the government is signaling that such consultation will also take place outside the TIPNIS. Not only is incoherent, unconstitutional but serves to prove a point: this government is no “mother earth’s” champ nor is defending the indigenous groups of Bolivia. Plain semantics, demagogue of current politicians in power and our wildlife continues to be in danger… The map shown here, with options for such road, was published by Los Tiempos, July 3, 2011 !!!!


Was it a grant, loan? Current president launched his political ‘give-away’ program, not using proper audit, financial channels to account for and clearly keep the records in place. Under the ‘evo cumple’ program, lots of soccer fields were scattered nationwide and other small yet visible infrastructure, checks were handed in to those Mayor willing to accept and now Venezuela starts to question this financing… so, is Bolivia [all of us] going to pay for these awkward and certainly not-self sustain monies? Who approved this loan? or the Venezuela money came as a grant? Just last week, Russia said it will go after Cuba, so all those billionaire subsidies to keep their “socialism” afloat will now have to be paid… The so-called ALBA group, led by the wallet of the hope-to-be-driven-out current Venezuela president is being highly questioned by Henrique Capriles Radonski, the soon to be president of that country. Good for the Venezuelans as it is their income, bad for us, who will have to inherit, like the Cubans, for loans we didn’t want, we didn’t need.


In short, we must be careful for our present actions, we may lose our savings, we may lose our environment and we may end up paying for the irresponsibility and demagogic actions of current politicians in power!