Urgent Deal to Avoid Crisis | Acuerdo urgente para evitar crisis

By Erbol:

URGENT NEED FOR A POLITICAL AGREEMENT

Experts warn that difficult months are coming in economic and energy terms

Panel of Hagamos Democracia this Sunday. Photo/screenshot

Two specialists in economics and energy warned this Sunday that Bolivia could face complex months in economic and energy matters due to the shortage of foreign currency and the lack of investment in the hydrocarbons sector, a situation that could even lead to electricity supply problems if urgent measures are not adopted.

The former president of the Central Bank of Bolivia, Juan Antonio Morales, and former senator and oil expert Fernando Rodríguez Calvo participated in the program Hagamos Democracia on the Erbol network, where they agreed on the need to reach political agreements to promote reforms that would attract foreign investment and stabilize the economy.

Morales warned that the country faces a complicated scenario that requires coordination among the different political and economic actors.

“Difficult months are coming that require great cooperation from all political and economic agents,” he said.

The economist noted that several government programs coincide on key proposals to face the crisis. He mentioned, for example, that the proposals of Samuel Doria Medina and Jorge Tuto Quiroga show similarities, and that President Rodrigo Paz would have largely adopted Doria Medina’s economic program.

In that context, he considered that there are conditions to achieve agreements in the Plurinational Legislative Assembly, since among the main proposals there is agreement on the need to apply an exchange rate unification, a measure he described as “absolutely essential.”

He also raised the need to overcome the current “dollar corralito,” allowing the population to recover their deposits in foreign currency or access foreign exchange through credit cards.

To achieve this, he argued, it would be necessary to move toward an agreement with the International Monetary Fund, carefully evaluating its conditions.

“The Monetary Fund is also a key to unlocking resources from the Inter-American Development Bank and other international financial institutions,” he explained.

Morales added that one of the structural changes that should be discussed is the modification of the Political Constitution of the State, which—he said—would be possible if political forces reach consensus in Parliament.

Energy risk

For his part, Rodríguez Calvo said that the debate should not focus on the strength or weakness of the government, but rather on the need to adopt decisions with a country-wide vision.

“What is needed is for our rulers to be statesmen,” he said.

The analyst emphasized that laws must be conceived for the future of the country and not to benefit a particular government or political party.

“When a law is approved, legislation is not made for a ruler but for the country. That is why those who have reached Parliament must set aside pettiness, sectarianism and even personal egos,” he said.

Rodríguez urged both the ruling party and the opposition to assume responsibility for the moment the country is experiencing.

“The moment is critical and, if we do not unite among all of us, we will not move the country forward,” he warned.

The specialist also announced that on Tuesday he will present a proposal to draft a new Hydrocarbons Law aimed at generating more attractive conditions for international investment.

Among the urgent measures, he mentioned the need to resume strategic energy projects such as the Carrizal hydroelectric development, whose final design—he said—has already been completed.

Rodríguez explained that this type of project would allow reducing gas consumption in electricity generation and extending available reserves.

“We need dams to free up gas and stretch its use for as long as possible. We do not want to live the reality of countries where they no longer talk about blackouts but about ‘light-ups,’” he said.

Finally, he insisted on the need to reach a major national agreement that would allow reform of current regulations and the approval of sectoral laws that facilitate the arrival of investments in the energy sector.

“Any law that is drafted must be transparent and attract the major oil companies,” he concluded.

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