Bolivia: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Bolivian Authorities
November 1, 2022
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Supported by favorable terms-of-trade, the economy has recovered more rapidly than expected and output is now nearing pre-COVID levels, although it is expected to remain below the pre-COVID trend during the next five years. The windfall from higher prices for Bolivia’s exports of food, minerals, and natural gas has bolstered private savings, some of which has been channeled to finance the budget deficit. Despite this, ongoing monetary financing, in the context of the fixed exchange regime, continues to drain international reserves. The inflation rate has been one of the lowest in the region, in large part a result of price controls and increased subsidies for food and energy.
Subject: Central banks, Economic sectors, Expenditure, International organization, International reserves, Monetary policy, Pension spending, Public debt, Public investment spending, Public sector
Keywords: Bolivian government, Caribbean, fund staff, Global, International reserves, liability positions vis-à-vis nonresident, market exchange rate volatility, Pension spending, Public investment spending, Public sector, South America, staff state, U.S. dollar
Pages:
64
Volume:
2022
DOI:
Issue:
333
Series:
Country Report No. 2022/333
Stock No:
1BOLEA2022001
ISBN:
9798400223778
ISSN:
1934-7685
