The Bolivian Government considers that the low dollar liquidity the country is experiencing is transitory, which it expects to overcome gradually through a package of measures, assured the Minister of Economy, Marcelo Montenegro.
“We are going through a transitory moment of low liquidity, and we are going to overcome this moment with an injection of liquidity that can come from the Net International Reserves and also from exports.”
“They are a natural source of foreign currency creation, and the substitution of imports is a saving of foreign currency”, said Montenegro, citing a recent management report of the Bolivian president, Luis Arce.
In contact with the local press, the official stressed that several sources could be used for optimal foreign currency management in the country.
In his speech on the evening of May 9, the Bolivian president admitted that there is a shortage of dollars in the country and that he seeks to inject the currency with several measures.
“Bolivia, like some countries in the region, faces problems of liquidity of the US dollar, which, in our case, as a result of the approval of the Gold Law and other measures we are taking, we will gradually overcome them”, said Arce.
With this regulation, the Bolivian government seeks, through the Central Bank, to buy national gold, refine it and carry out financial transactions in the foreign market, thus injecting dollars into the country.
Another measure that Bolivia is promoting, according to Montenegro, is the substitution of imports with industrialization in the country to stop buying fertilizers such as urea, fuels, and basic chemical inputs.
With information from Sputnik