{
  "title": "Bolivia: Selected Issues",
  "publication": "IMF Staff Country Reports, January 29, 2010",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/bolivia-selected-issues-23585",
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  "summary": "This paper derives estimates of optimal levels of reserves for Bolivia, focusing on current account shocks as the key balance of payments risk. Bolivia’s foreign reserves are adequate, with an optimal level between 29 percent of GDP and 37 percent of GDP.",
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    {
      "heading": "Key findings and estimates",
      "content": "- Bolivia’s foreign reserves are adequate.\n- Estimated optimal level of reserves: between 29 percent of GDP and 37 percent of GDP.\n- The paper derives estimates of optimal reserves focusing on current account shocks as the key balance of payments risk."
    },
    {
      "heading": "Drivers of reserve accumulation",
      "content": "- Reserve accumulation stemmed primarily from a persistent current account surplus.\n- The macroeconomic context included a crawling peg exchange rate regime.\n- Large current account surpluses followed from major terms of trade improvement after the sharp increase in Bolivia’s key export commodity prices during the period 2004–08."
    },
    {
      "heading": "Analytical focus",
      "content": "- Primary balance of payments risk considered: current account shocks.\n- The analysis links external asset accumulation to commodity price developments and exchange rate regime.\n\n---\n\n Content in this bundle\n\n- Bolivia: Selected Issues; IMF Country Report 10/29; December 23, 2009\n  - Bolivia: Selected Issues; IMF Country Report 10/29; December 23, 2009 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Bolivia: Selected Issues; IMF Country Report 10/29; December 23, 2009 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "[Markdown version](/en/publications/cr/issues/2016/12/31/bolivia-selected-issues-23585/index.md)",
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    "Published: January 29, 2010",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451805871.002",
    "Bolivia’s foreign reserves are adequate.",
    "Estimated optimal level of reserves: between 29 percent of GDP and 37 percent of GDP.",
    "The paper derives estimates of optimal reserves focusing on current account shocks as the key balance of payments risk.",
    "Reserve accumulation stemmed primarily from a persistent current account surplus.",
    "The macroeconomic context included a crawling peg exchange rate regime.",
    "Large current account surpluses followed from major terms of trade improvement after the sharp increase in Bolivia’s key export commodity prices during the period 2004–08.",
    "Primary balance of payments risk considered: current account shocks.",
    "The analysis links external asset accumulation to commodity price developments and exchange rate regime.",
    "**Bolivia: Selected Issues; IMF Country Report 10/29; December 23, 2009**"
  ],
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