Adjustments in economic policy are recommended

ANF reports for Pagina Siete:

The National Chamber of Commerce (CNC) recommended, in a statement issued yesterday, that given the economic imbalances that were generated in Argentina, and that make foresee consequences in the regional and national economy, some adjustments in Bolivian economic policy should be promoted.

“This serious imbalance in the Argentine economy will have consequences for the region, some of which we are already perceiving, since both Brazil and Uruguay have had to intervene in their exchange markets to avoid major devaluations in their currencies. This implies that Bolivia should also react to the consequences for our economy,” says a salient part of the document.

The entity that groups the importers points out that as has happened on previous occasions, the exchange runs in Argentina generate incentives for the arbitrage of currency at the borders, since the increasing differential in the exchange rate pushes the agents to take dollars from Bolivia to Argentina, with the consequent exit of foreign currency and reduction of the country’s international reserves.

It also observes a greater deterioration in the conditions faced by some sectors, such as the banana plantation in Chapare, whose only export market is Argentina and which at the beginning of the year pointed out some problems they faced in the face of the growing exchange rate differential.

“Also, before a drastic reduction in activity, it is clear that non-payment and lower demand for gas will also have a direct impact on the State’s finances,” he warns.

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