Dollar Shortage, a Very Important Issue | Escasez de dólares, cuestión muy importante

Editorial, El Diario:

It is a truism that the country is running short of dollars, at a time when the populist stage is ending and a new government is expected to face this problem, one of the most serious today.

During the years of “evista” misrule, the country received a considerable amount of foreign currency, mainly from gas sales to Brazil and Argentina. Those Net International Reserves (NIR) were used to cover various state expenses. But when export commodity prices collapsed, the national economy went into crisis. What is certain is that the millions of dollars accumulated during the “evista” stage were squandered. Moreover, no measures were taken to replenish gas reserves and thus maintain the main source of economic income.

As a result, there is currently an economic crisis and a shortage of dollars for various imports, especially gasoline, diesel, food, medicines, and supplies. Furthermore, importers of diverse goods, from machinery to matches, lack dollars and are forced to buy them on the black market to stay in business, spending almost twice as much compared to past times.

The problem of the dollar shortage is very complex, but it causes widespread concern, because the complete disappearance of foreign currency would make it impossible to import many mass-consumption products. If such an extreme scenario occurs, Bolivians would face great difficulties and the new government would find itself hanging by a thread. This is the country’s harsh reality. In this respect, the future rulers will find themselves on the razor’s edge, without even mentioning what could happen among the population.

The worst part is that the current government has no solution to ensure the country has enough foreign currency to meet people’s needs. Regarding this matter, the two presidential candidates have not yet presented concrete proposals, focusing instead on less important issues.

Therefore, it is necessary for the two candidates qualified for a second electoral round to explain the measures they will take to address the current economic crisis, so that popular pressure does not rise to extreme levels. In this regard, it is worth asking whether the candidates have already foreseen how to resolve the problem of the currency shortage, so that imports return to normal and the country’s productive apparatus remains active.

No specific answers have been given on these pressing issues. It is true that both candidates have offered some responses, but, in reality, they only refer to secondary matters, which are merely effects of the dollar crisis. Moreover, solving the economic crisis also means obtaining dollars and finding a way for the Central Bank to once again receive large amounts of foreign currency, as during the fat years of the MAS “evista” government.

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