Amid mutual accusations between the Association of Private Banks of Bolivia (Asopan) and the Central Bank of Bolivia (PCB) over the shortage of dollars in the national territory, Oscar Balderas, vice-president of the Citizens’ Social Coalition (CC), said the government maintains the narrative of what he calls a “shield economy” and exiting the crisis. He questioned that he did not demonstrate the ability to propose real policies.
In a statement to the media at the government headquarters, the lawmaker representing Beni’s department referred to the conflict between private banks and the BCB over the circulation of the North American currency, compliance with pledges and other issues related to the state. National economy.
For Balteras, the crisis has reached dimensions caused by the lack of dollars in the national market, which leads to consider the situation as a real “catastrophe”, contrary to the speeches made by government officials about stability.
“The situation as claimed by Asoban is fully proven, we know that the national economic crisis has already turned into a disaster. We cannot close our eyes and believe what the government is saying,” said the legislator.
Likewise, this delicate situation is part of a gap in the trade balance with low exports in relation to the country’s imports, a fall in international reserves “through the platform” and persistent fuel shortages, in addition to the increase. On drug prices, the central government and economic authorities have not presented real solutions to the problem.
“We have to find a way, unfortunately the government continues its story that ‘the economy is armored’ and this does not match the reality that the Bolivian people live in, suffering from unemployment, insecurity of citizens and very proven rates. The expansion of drug trafficking,” he said.
Given this panorama, Balderas blamed the governments of the Movement Towards Socialism (MAS) for the mismanagement of the country’s economy by this political system that has been in power for more than 18 years.
According to the opposition lawmaker, MAS’s efforts to manage the national economy have been characterized as “against common sense” due to the use of policies against wealth creation, but mainly due to the lack of prioritization of efficient management. Protects the interests of all Bolivians.
“Today we are seeing these consequences and the situation in terms of dollars is absolutely deplorable,” he said.
Due to the above, neither the government nor the central bank has implemented strategies to guarantee the circulation of dollars in the domestic market, thus causing uncertainty among the people and especially the business sector.
Deputy Georges Mercado, from the ruling party’s “archist” wing, recognized that the crisis of lack of dollars in the national territory was real and pointed out that the solution to this problem involved the recognition of international credits in the ALP. For that foreign currency can be injected into the Bolivian economy.
“I’m not going to lie, I’m on the street and I know the dollars are missing, so we all need to take action. What we need to do from the legislature is to approve the loans, because it’s 650 million that will give the banks more liquidity,” he said.
Similarly, referring to private banks, he pointed out that there are sectors that are not acting honestly in this situation. “According to the information we have, there is enough money in the bank vaults and even in international transactions they are charging more than they should. “There is no reason to look for OD dollars, I don’t have even a single dollar in my account, it doesn’t bother me,” he said.
This week, the Financial Institutions Supervisory Authority (ASFI) imposed sanctions on financial intermediaries that failed to comply with regulations on interest rates, commissions and fees established for transactions in dollars.
The fines totaled 20 million bolivianos for eight multinational banks, one SME bank, four exchange offices, one credit card management company, three investment fund management companies and one holding company.
In a statement, Asoban asked the PCB to return the dollars given as collateral so that banking institutions can meet the demand for foreign currency in the country.
Immediately, the PCB responded to the private bank statement, stipulating the withdrawal of the funds on compliance with contractual obligations by the financial institutions and “those institutions complying with the conditions established in the regulations,” a statement said. BCB Presenting Company.
In addition, the BCB recalled that in 2017 the funds were created as a guarantee for loans granted to financial institutions, so that they can access them at 0% interest rate, these resources are sent to production and production, among others. Social interest home loans.
Yesterday, in a press conference, the head of the central bank, Edwin Rojas, confirmed that the dollar funds managed by the issuing company will be returned to the banks, recalling that the deadline for compliance with these returns will last until 2026.
