IMF Meets with Government and Business Leaders | FMI se reúne con el Gobierno y empresarios

By Ernesto Estremadoiro, El Deber:

Technical IMF Mission Meets with Government and Business Leaders in Santa Cruz

The IMF is moving closer to Bolivia, which requires financial assistance / Photo: Internet

The rapprochement comes amid negotiations promoted by the government to access a possible external financing program of up to $3 billion, and in a context marked by road blockades and mounting pressure on the economy.

A technical mission from the International Monetary Fund held meetings in Santa Cruz with representatives of the private sector and government authorities, amid discussions being promoted by the administration to secure a potential external financing program.

Business sector sources confirmed that representatives of the international organization met with CAINCO, while on Tuesday the Minister of Economy, José Gabriel Espinoza, confirmed the rapprochement during an interview with a La Paz media outlet.

According to Bloomberg, the IMF technical mission arrived in the country last week and had planned to visit Santa Cruz and La Paz. However, sources indicated that it ultimately did not travel to the seat of government due to the conflicts and road blockades reported in several regions over the past two weeks.

The meetings are taking place at one of the most tense moments the country has faced in recent years, with protests and blockades affecting supplies, putting pressure on the exchange rate, and fueling growing criticism of the Government’s economic management. In several regions, calls have also emerged for the resignation of national authorities amid the worsening economic situation.

The rapprochement with the IMF is also occurring in a context of pressure on public finances and a search for new sources of liquidity for the Bolivian economy. At the beginning of May, Espinoza stated that a possible IMF program could represent between $2.6 billion and $3 billion for Bolivia over the next three years.

In an interview with a La Paz media outlet, the minister assured that conversations with the organization are taking place in a “fluid and frequent” manner, although he avoided giving further details about the scope of a possible negotiation.

“I am talking with the Fund. As part of the Government, we are responsible for leading economic policy, but this is done under the president’s mandate. We are doing it in a very fluid and frequent way, and once we have things well defined, we will announce them,” the minister stated.

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