Bolivian Central Bank former president suggests prudent use of the Net International Reserves

ANF reports in El Deber:

BCB president suggests prudent use of the RIN

Antonio MoralesThe former president of the Central Bank of Bolivia (BCB), Antonio Morales recommended that the Government use prudently the Net International Reserves (NIR) because if they fall, they could raise doubts about the soundness of the financial system. He also asked to stop investing in more state enterprises and arrogate to strengthen their business management.

“Using reserves itself is not bad, but should be well used because they are a guarantee for the financial system (…). When reserves fall much, that could introduce doubts about the soundness of the financial system,” he said.

According to the BCB the RIN as of May 2016 reached US $11.796 million. RIN in December 2015 closed at US $13.055 million.

For Morales, it is necessary to reorganize state enterprises and provide them with better managerial ability./ ANF

http://www.eldeber.com.bo/economia/expresidente-del-bcb-sugiere-prudente.html

Current government is more interested in remaining in power and being a true demagogue and ochlocrat, they only think about handing out bonuses and “supporting” state-owned enterprises … so they keep on wasting our money … so far they spent over $150 billion dollars!

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