{
  "title": "Bolivia: 2018 Article IV Consultation-Press Release and Staff Report",
  "publication": "IMF Staff Country Reports, December 21, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/12/21/bolivia-2018-article-iv-consultation-press-release-and-staff-report-46492",
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  "summary": "After years of impressive growth and poverty reduction, Bolivia is facing a more challenging period. Accommodative fiscal and monetary policies combined with lower gas and minerals prices have contributed to continued large twin deficits, foreign reserve losses, and a sharp increase in public debt.",
  "sections": [
    {
      "heading": "Summary and key findings",
      "content": "- After years of impressive growth and poverty reduction, Bolivia is facing a more challenging period.\n- Accommodative fiscal and monetary policies combined with lower gas and minerals prices have contributed to:\n  - continued large twin deficits,\n  - foreign reserve losses,\n  - a sharp increase in public debt.\n- External competitiveness has been negatively affected by:\n  - the appreciating US dollar,\n  - high wage growth,\n  - domestic policies that have hindered private sector investment.\n- A definitive change in the policy stance is warranted to:\n  - restore external balance,\n  - minimize a further buildup in vulnerabilities,\n  - promote broad based growth."
    },
    {
      "heading": "Economic challenges and drivers",
      "content": "- Fiscal and monetary stance:\n  - Described as accommodative and contributing to macroeconomic imbalances.\n- Commodities and external sector:\n  - Lower gas and minerals prices have reduced external revenues.\n  - Foreign reserve losses have occurred alongside large twin deficits.\n- Public finances:\n  - A sharp increase in public debt is highlighted as a concern.\n- Competitiveness and investment:\n  - Appreciation of the US dollar and high wage growth have reduced external competitiveness.\n  - Domestic policies have hindered private sector investment."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- The report calls for a definitive change in the policy stance to:\n  - restore external balance,\n  - limit further buildup of vulnerabilities,\n  - support broad based growth through improved competitiveness and private sector investment."
    },
    {
      "heading": "Publication and metadata",
      "content": "- Pages: 79\n- Volume: 2018\n- Issue: 379\n- Series: Country Report No. 2018/379\n- DOI: https://doi.org/10.5089/9781484392041.002\n- Stock No: 1BOLEA2018001\n- ISBN: 9781484392041\n- ISSN: 1934-7685\n- Publication date on landing page: December 21, 2018\n- Subjects: Banking, Commodity prices, Credit, Economic sectors, Expenditure, Money, Prices, Public debt, Public investment and public-private partnerships (PPP), Public sector\n- Keywords: accommodative fiscal policy, boom period, central bank, commodity, Commodity prices, CR, Credit, exchange rate, exchange regime, fiscal policy, Global, ISCR, Public investment and public-private partnerships (PPP), Public sector, U.S. dollar\n\nInternational Monetary Fund. Bolivia: 2018 Article IV Consultation-Press Release and Staff Report (Country Report No. 2018/379).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 21, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484392041.002",
    "After years of impressive growth and poverty reduction, Bolivia is facing a more challenging period.",
    "Accommodative fiscal and monetary policies combined with lower gas and minerals prices have contributed to:",
    "External competitiveness has been negatively affected by:",
    "A definitive change in the policy stance is warranted to:",
    "Fiscal and monetary stance:",
    "Commodities and external sector:",
    "Public finances:",
    "Competitiveness and investment:",
    "The report calls for a definitive change in the policy stance to:",
    "Pages: 79",
    "Volume: 2018",
    "Issue: 379",
    "Series: Country Report No. 2018/379",
    "DOI: https://doi.org/10.5089/9781484392041.002",
    "Stock No: 1BOLEA2018001",
    "ISBN: 9781484392041",
    "ISSN: 1934-7685",
    "Publication date on landing page: December 21, 2018",
    "Subjects: Banking, Commodity prices, Credit, Economic sectors, Expenditure, Money, Prices, Public debt, Public investment and public-private partnerships (PPP), Public sector",
    "Keywords: accommodative fiscal policy, boom period, central bank, commodity, Commodity prices, CR, Credit, exchange rate, exchange regime, fiscal policy, Global, ISCR, Public investment and public-private partnerships (PPP), Public sector, U.S. dollar",
    "**Country Report**"
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