“How much longer will this exhausted model last?” | “¿Hasta cuándo este modelo agotado?”

By Ernesto Estremadoiro Flores, El Deber:

Supply Crisis

Jean Pierre Antelo: “How much longer will this exhausted model last?”

Antelo Questions Government’s Economic Model / Photo: Ricardo Montero

The president of Cainco criticized the government’s recent measures to address the economic crisis, stating they are insufficient and repetitive.

Jean Pierre Antelo, president of the Santa Cruz Chamber of Industry, Commerce, Services, and Tourism (Cainco), expressed concern over the government’s recent measures to tackle Bolivia’s ongoing economic crisis.

Through his social media, Antelo pointed out that the proposed solutions are repetitive and ineffective as the crisis worsens. He criticized the National Hydrocarbons Agency (ANH) for launching a new application despite the existence of more than three developed by entrepreneurs.

“The ‘solutions’ are being repeated while the crisis deepens. An ANH app when there are already more than three created by entrepreneurs. More cable car hours, but what about cities that rely on buses? Meanwhile, dollars, fuel, and ideas are running out,” he said.

Bolivia is facing an economic crisis marked by a shortage of dollars and fuel. The decline in international reserves and reduced natural gas exports have weakened the national economy. This situation has led to long lines at gas stations and difficulties accessing foreign currency in banks.

How much longer will this exhausted model last? How much longer will this ‘new normal’ of permanent crisis continue?” the businessman questioned.

In response to the dollar shortage, the government has authorized the state-owned company YPFB to use cryptocurrencies to pay for energy imports, aiming to maintain fuel subsidies and mitigate the crisis.

The Bolivian population is bearing the consequences of this crisis, with rising prices of food and essential goods affecting their quality of life and creating uncertainty about the country’s economic future.

Given this scenario, business leaders have urged the government to implement innovative and effective solutions to overcome the crisis and prevent the situation from becoming a “new normal” of persistent economic and social issues.

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