Category Archives: Mining

On the razor’s edge

Editorial from El Diario, picture from the internet:

The fate of the country is, at the present time, in a delicate situation in which its destiny will be inclined to progress or backwardness. The objective conditions of that reality have been laid bare in the electoral stage that is under development, amid contradictory conditions.

The economic crisis that takes place at the bottom of national life is, day after day, more acute, although the appearances and the policy of confusion and disorientation of the ruling party say otherwise. The concrete data show a situation less than alarming, which could disturb and make goose bumps to the most serene and impartial analysts.

Less gas is sold to external consumers, who provide us with less currency than we need. Bolivia no longer exports hydrocarbons (gasoline, diesel).

The production of tin and other minerals is falling due to internal problems. Comibol cannot exceed the production of Huanuni, a state-owned company that when it had 700 workers produced more than with the nearly 5,000 it now has. Nor does it solve the theft of tin and the jukus operate at their discretion. The only useful mine is San Cristóbal.

Investments are not attracted, the trade balance has been falling for five years and at the end of the present it reached the deficit of 720 million dollars and until the end of the year it would reach 1,500 million.

The construction sector also faces acute problems; the apartments are not sold, even though prices collapsed by up to 50 percent. The industrial sector suffered a fall of activities of 16 percent.

International reserves fell from 15,500 million dollars to 5,800 million, that is, two thirds. As if that were not enough, private banking announces a decrease in public deposits and greater withdrawals. Bank default grows. The fiscal deficit is the highest in Latin America.

When it rains, it pours. A very poor agricultural year is foreseen for climatic reasons and forest fires.

The only lines that raised production are coca cultivation, smuggling and informality. The Bolivian people feed on imported products. Without comparison, Venezuela, which had large revenues, reserves, etc. to import food, squandered their money and now has no foreign currency to buy food, which has led the Caribbean country to hunger.

https://www.eldiario.net/noticias/2019/2019_08/nt190825/editorial.php?n=23&-en-el-filo-de-la-navaja

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