Bolivia: Ex-Post Assessment of Longer-Term Program Engagement

IMF Staff Country Reports, April 20, 2005

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Bolivia is perceived as having one of the best structural reform records in Latin America.
Despite strong structural reform efforts, Bolivia experienced sluggish per capita growth.
Bolivia made virtually no progress in reducing income-based poverty measures.
The paper presents a summary account of Bolivia’s performance under IMF-supported programs.
To address Bolivia’s main economic problems—insufficient growth, and fiscal and financial fragility—the paper emphasizes that a new medium-term program should be focused on fundamental institutional and structural reforms.

The assessment provides an overview of Bolivia’s performance under IMF-supported programs (summary account).
Key macrostructural issues identified include insufficient growth and fiscal and financial fragility.
The report highlights a contrast between strong structural reform implementation and weak outcomes on per capita income growth and poverty reduction.

A new medium-term program is recommended with a primary focus on fundamental institutional reforms.
Structural reforms are emphasized as central to resolving the twin problems of insufficient growth and fiscal and financial fragility.
Financial sector reform and financial regulation and supervision are implied priorities given the identified financial fragility.

International Monetary Fund. "Bolivia: Ex-Post Assessment of Longer-Term Program Engagement", April 20, 2005.