{
  "title": "Bolivia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bolivia",
  "publication": "IMF Staff Country Reports, January 31, 2025",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2025/01/31/bolivia-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-561449",
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  "summary": "The 2024 Article IV Consultation highlights that Bolivia's growth momentum moderated in 2023, to 2.5 percent, from declining natural gas production, less public investment, and financial market turmoil. Growth is anticipated to decelerate to 1.6 percent in 2024, holding at around 2.2-2.",
  "sections": [
    {
      "heading": "Growth performance and outlook",
      "content": "- 2023 growth moderated to 2.5 percent, driven by declining natural gas production, less public investment, and financial market turmoil.\n- Growth is anticipated to decelerate to 1.6 percent in 2024.\n- Under continuation of current policies, growth is projected to hold at around 2.2-2.3 percent in the medium term.\n- Near-term growth is expected to remain constrained by elevated uncertainty and unfavorable financial conditions."
    },
    {
      "heading": "Inflation and external financing risks",
      "content": "- Inflation is forecast to reach 4.5 percent in 2024.\n- Inflation is expected to stabilize around 4 percent thereafter.\n- The outlook is predicated on significantly improved access to external financing; without such access, the risk of disorderly fiscal and/or exchange rate adjustment is elevated."
    },
    {
      "heading": "Key vulnerabilities and sectoral drivers",
      "content": "- Declining natural gas production contributed to the 2023 growth moderation.\n- Reduced public investment and financial market turmoil were also identified as factors weighing on growth.\n- Elevated uncertainty and unfavorable financial conditions are limiting near-term momentum."
    },
    {
      "heading": "Policy recommendations and structural reforms",
      "content": "- Incentivize foreign investment.\n- Improve capital allocation.\n- Eliminate credit quotas and interest rate ceilings.\n- Expand and diversify the export base.\n- Strengthen fiscal and central bank governance.\n- Revamp the regulatory framework.\n- These structural reforms are described as crucial to eventually guide the economy to a higher medium-term growth path."
    },
    {
      "heading": "Thematic coverage (as listed)",
      "content": "- Central banks\n- Economic sectors\n- Foreign exchange\n- Inflation\n- International reserves\n- Prices\n- Public debt\n- Public sector\n\nSource: Bolivia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bolivia (IMF Staff Country Report No. 2025/034).\n\n---\n\n Content in this bundle\n\n- 1bolea2025001-print-pdf\n  - 1bolea2025001-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1bolea2025001-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 31, 2025",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400299292.002",
    "2023 growth moderated to 2.5 percent, driven by declining natural gas production, less public investment, and financial market turmoil.",
    "Growth is anticipated to decelerate to 1.6 percent in 2024.",
    "Under continuation of current policies, growth is projected to hold at around 2.2-2.3 percent in the medium term.",
    "Near-term growth is expected to remain constrained by elevated uncertainty and unfavorable financial conditions.",
    "The outlook is predicated on significantly improved access to external financing; without such access, the risk of disorderly fiscal and/or exchange rate adjustment is elevated.",
    "Declining natural gas production contributed to the 2023 growth moderation.",
    "Reduced public investment and financial market turmoil were also identified as factors weighing on growth.",
    "Elevated uncertainty and unfavorable financial conditions are limiting near-term momentum.",
    "Incentivize foreign investment.",
    "Improve capital allocation.",
    "Eliminate credit quotas and interest rate ceilings.",
    "Expand and diversify the export base.",
    "Strengthen fiscal and central bank governance.",
    "Revamp the regulatory framework.",
    "These structural reforms are described as crucial to eventually guide the economy to a higher medium-term growth path.",
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