Bolivia near IMF deal and end of fixed exchange rate | Bolivia cerca de acuerdo con el FMI y fin del tipo de cambio fijo

By Brújula Digital:

According to Bloomberg, the government is about to formalize a credit agreement with the IMF and end the fixed exchange rate system

The specialized financial portal cites sources who attended a meeting with Vice Minister Christian Morales.

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Is a major financing package and the end of the parallel dollar market coming? According to Bloomberg, the Bolivian government is close to formalizing both measures, which would lead to the first structural reforms to state finances in more than seven months of government.

The outlet published a report stating that the executive branch “officially informed major international investors” that it has nearly finalized a financing agreement with the International Monetary Fund, which would also lead, Bloomberg specifies, to the end of the fixed exchange rate system in place since 2011.

“Christian Morales, Bolivia’s Deputy Minister of Finance and Public Credit, said that the monetary changes could take place as early as this week, according to people who attended an investor conference organized by an investment bank on Monday,” the report states.

Although the portal does not directly quote Morales, it says the information was shared by attendees at the conference. A “spokesperson” for the International Monetary Fund is also cited, stating that negotiations with the Bolivian government are advancing and that there is a “very constructive collaboration.”

BD/MZS

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