Central Bank of Bolivia will strengthen policies to maintain economic stability

The Central Bank of Bolivia (BCB) announced Thursday that it would strengthen monetary policies to maintain financial and exchange rate stability and contribute to economic growth.

In the accountability of the year 2022, held today in La Paz, the president of the entity, Edwin Rojas, highlighted the low inflation registered in the country and the stabilization of net international reserves (NIR) amid an adverse international context.

“The conventional and non-conventional monetary policies implemented in 2022 boosted economic activity, ensured liquidity and financial stability, and modernized the payment system as a fundamental role in economic reactivation and the dynamization of trade”, evaluated Rojas.

Bolivian reserves, he said, stabilized and reached US$4.5 billion last year, despite adverse factors such as the fall in the price of gold, lower foreign debt flows, or the delay in payments for the sale of gas.

For this year, the objective is to keep them firm and secure, said Rojas.

He also highlighted the Bolivianization policy, which has made it possible to keep the exchange rate unchanged since November 2011 and to face external inflationary pressures.

Consequently, he added, in 2023, work will be done to maintain exchange rate stability to provide greater certainty to the Bolivian population and continue supporting the Bolivianization of the economy.

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